Interpret ETH trend with a 1-hour candlestick period

[Price Trend Analysis]

1. K-line patterns:
After a long lower shadow tested the bottom at 3137 on the 1-hour level, a rebound occurred, indicating strong support exists below 3150.

The daily chart has formed three consecutive candlesticks with long upper and lower shadows, creating a spinning top pattern, indicating intense competition between bulls and bears.

The monthly chart shows a bearish engulfing pattern, with EMA120 (3273) becoming a key resistance.
2. Technical Indicators:

MACD: After a bottom divergence appears at the 1-hour level, the DIF crosses above the DEA, but the daily MACD is still below the zero line.

RSI: The 1-hour level has risen from the oversold area of 41.95 to the neutral zone of 47.79, while the daily RSI is at 34.93, indicating a weak area.

EMA: The 1-hour EMA7 (3180) has crossed below EMA30 (3187) forming a death cross, and the daily EMA30 (3607) has formed a significant divergence with the price.

3. Trading Volume:

A key point occurred at 19:00 with a volume spike of 21.22 million in a long bearish candle, followed by a rebound at 22:00 with a volume of 9.26 million.

The daily trading volume continues to shrink, with a stepwise decrease in volume over the past three days.

The monthly volume bars show a top divergence pattern, with a significant shrinkage in trading volume in the high price range.

(Note: Key integer positions focus on 3150/3200, with the band high and low points anchored in the 3137-3248 range)

[Buy and Sell Points]

Buy point 1: 3150 USDT (the strong support near the previous daily low of 3130, resonance of the EMA120 on the 1-hour level and the round number)

Buy Point 2: 3120 USDT (Inertia drop after breaking through the intraday low of 3137, support level of monthly EMA30 (2816) trend line)

Long stop loss point: 3100 USDT (20 USDT below the entry point, and within the buffer zone below the weekly wave low of 3054)

Sell Point 1: 3210 USDT (1-hour EMA7 (3180) and EMA30 (3187) death cross pressure, compounded by the selling pressure at the 3200 integer level)

Sell point 2: 3240 USDT (previous high 3248 selling pressure area, daily EMA7 (3266) and monthly EMA120 (3273) form double resistance)

Short stop loss point: 3270 USDT (confirm trend reversal after breaking the monthly EMA120, leaving a buffer space of 30 USDT)

ETH 1-hour price trend: sideways