Binance ETHUSDT 1h Trend Prediction

Comprehensive analysis of current market data indicates that ETHUSDT is at a critical point of short-term technical correction. The price has approached the upper Bollinger Band at 3506.78, forming a clear technical resistance level. Multiple RSI indicators show a severely overbought condition, particularly RSI6 reaching a high of 75.75. Historical experience suggests that such levels are often accompanied by short-term corrections. The J-line of the KDJ indicator is even at an extreme high of 93.93. Although the MACD histogram shows positive values, the DIF line remains negative, indicating that upward momentum is insufficient. The price, while above several short-term moving averages, has failed to break through the critical resistance at MA50. From exchange data, despite the large trader long-short position ratio of 2.5260 indicating bullish sentiment, the negative funding rate suggests the market faces some bearish pressure. The active buy-sell ratio of 1.0936 is slightly bullish but not decisively so. Technically, after experiencing prior upward movements, the price is currently testing a key resistance zone. Considering the overbought indicators and resistance level analysis, a technical correction within the next hour is expected. Support level analysis shows the first support around 3450.61 (MA20), and the second support near 3420. Given the current technical indicators, the probability of the price retracing to the 3420-3460 range is relatively high. In risk management terms, if the price can strongly break through the 3510 resistance level and stabilize, a reassessment of the trend would be necessary. However, based on the current overbought technical signals, a short-term correction is more probable. Trading recommendation: Consider gradually reducing positions or initiating light short positions within the 3480-3490 range, targeting the 3430-3450 zone. Set stop-loss above 3520, which is the breakout point of MA50.