Evening market analysis: merl, OP, ETH

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merl

1-hour price trend of merl: Downward.

This is a 1-hour Hotcoin Global merl/USDT K-line chart, with the latest price at 1.0572 USDT, including EMA, MACD, KDJ, and volume indicators.

【Buy/Sell Points】

• Buy Point 1: 1.0800 USDT (This price is close to the low point at 08:00 on April 20. If the market supports this level, it may be an opportunity for a short-term rebound.)
• Buy Point 2: 1.0500 USDT (Considering the latest price has dropped to 1.0572, setting near the deeper pullback point at 1.0500 to capture potential oversold rebound.)
• Long Stop Loss: 1.0300 USDT (Leaving enough space to avoid triggering stop loss due to minor fluctuations, while referring to the extreme low point at 09:00 on April 20 as psychological and technical support.)
• Sell Point 1: 1.1000 USDT (Close to EMA(7) and slightly below the current trend line, can be considered as an initial reduction or profit-taking position.)
• Sell Point 2: 1.1200 USDT (Close to the high point at 10:00 on April 20, if the price can rise to this level, it may face significant resistance, suitable for further reduction or complete exit.)
• Short Stop Loss: 1.1300 USDT (Above Sell Point 2, providing a buffer zone for short selling operations, and also the high point area of the recent several hours' K-line.)

【Price Trend Analysis】

1. K-line pattern:

• The recent K-line shows significant price fluctuations, especially from 18:00 to 20:00 on April 19, where extreme fluctuations occurred, and the lowest price touched 0.1 before quickly rebounding. This may be due to some sudden events or erroneous trades causing abnormal fluctuations.
• From 19:00 on April 19 to 13:00 on April 20, the price experienced an upward trend, with the long positive line at 19:00 on April 19 indicating the control of the market by the buyers. However, after 07:00 on April 20, the price began to decline, and there are several K-lines with relatively long upper shadows, implying increased selling pressure at high levels.

1. Technical indicators:

• MACD indicator: The latest MACD value is not given, but it can be seen from the comparison of CLOSE and EMA(7) that the price is in a downward trend in the short term. If the MACD line has crossed the signal line, it may form a dead cross signal.
• KDJ indicator: The J value was 23.21 at 17:00 on April 20, significantly lower compared to the high point of the previous few periods at 61.60 (13:00 on April 20), indicating a weakening momentum in the short term and potential risk of a pullback.
• EMA indicator: The current closing price of 1.0572 is lower than the EMA(7) of 1.0881, indicating a downward short-term trend.

1. Volume:

• The trading volume reached a peak of 32411.35 at 16:00 on April 20, and then gradually decreased, consistent with the common pattern of increased volume at the top of the price range.
• The recent hours' trading volume has been stable but no longer increasing. Without new trading volume support, the current price level may be difficult to sustain.

OP

1-hour price trend of OP: Sideways.

This is a 1-hour Binance OP/USDT K-line chart, with the latest price at 2.2653 USDT, including EMA, MACD, KDJ, and volume indicators.

【Buy/Sell Points】

• Buy Point 1: 2.2400 USDT (Near the EMA(7) and EMA(30) moving averages, with strong short-term support.)
• Buy Point 2: 2.2000 USDT (Low point in the 20:00 to 21:00 range on April 19, if broken, can be seen as a deeper pullback buying point.)
• Long Stop Loss: 2.1800 USDT (Below Buy Point 2 and providing enough space to avoid triggering due to minor fluctuations.)
• Sell Point 1: 2.2800 USDT (Close to the high point at 15:00 on April 20, may face selling pressure.)
• Sell Point 2: 2.3200 USDT (Top of the long upper shadow at 23:00 on April 19, if broken, may strengthen the bullish momentum.)
• Short Stop Loss: 2.3300 USDT (Exceeding Sell Point 2, reducing the risk of greater losses due to continued upward movement in price.)

【Price Trend Analysis】

1. K-line pattern:

• The recent K-line shows intensified price fluctuations, especially the long upper shadow at 23:00 on April 19 indicating significant selling pressure at high levels.
• A long lower shadow hammer pattern appeared from 09:00 to 10:00 on April 19, followed by a price rebound.

1. Technical indicators:

• MACD indicator: The latest MACD histogram is a positive value but close to the zero axis, with DIF and DEA moving parallel near the zero axis, indicating that the market may be in a phase of contention between long and short positions.
• KDJ indicator: The J value is at 78.40, relatively high, indicating a potential overbought situation. The K line and D line are interlaced, without forming a clear golden cross or dead cross signal.
• EMA indicator: EMA(7) is slightly higher than EMA(30), indicating that there is still a certain upward momentum in the short term, but the difference between the two is not significant, and caution is needed for trend changes.

1. Volume:

• The trading volume increased from 09:00 to 11:00 on April 19, accompanied by a price decline and the formation of a hammer pattern, followed by a price rebound, indicating relatively strong support at the bottom.
• The trading volume has gradually decreased in the recent hours, indicating a decrease in market activity and an increase in participant wait-and-see sentiment.

ETH

1-hour price trend of ETH: Sideways.

This is a 1-hour Binance ETH/USDT K-line chart, with the latest price at 2.27 USDT, including EMA, MACD, KDJ, and volume indicators.

• Buy Point 1: 2.24 USDT (Supported by EMA(7) and EMA(30) moving averages, has rebounded after touching this price level several times recently)
• Buy Point 2: 2.20 USDT (Low point in the 18:00 to 20:00 range on April 19, may have strong support if the price retraces to this level)
• Long Stop Loss: 2.17 USDT (Leaving enough space to avoid triggering stop loss due to minor fluctuations, and below Buy Point 2 and the previous low point)
• Sell Point 1: 2.29 USDT (Close to the high point at 15:00 on April 20, may form short-term resistance)
• Sell Point 2: 2.32 USDT (The recent highest price, can be seen as a strong resistance level in the short term)
• Short Stop Loss: 2.35 USDT (Providing a buffer beyond Sell Point 2, reducing short selling losses caused by breaking new highs)

Price Trend Analysis

1. K-line pattern:

• The recent K-line shows relatively stable price fluctuations, with no obvious long real body or large candlesticks. There was a long lower shadow from 09:00 to 10:00 on April 19, indicating support from buyers at the low level.
• A high point of 2.32 appeared at 23:00 on April 19, followed by a price decline, but did not form a typical top reversal pattern.

1. Technical indicators:

• In the MACD indicator, both DIF and DEA are maintained close to the zero level, and the MACD histogram also shows weak alternation between positive and negative, with no clear trend signals for now.
• In the KDJ indicator, the J value fluctuated significantly in the latest data, but currently, the K and D lines are tending to flatten and approach each other, indicating a weakening momentum possibly entering a consolidation phase.
• Both the 7-period and 30-period EMA indicators are showing an upward trend, with EMA(7) consistently above EMA(30), maintaining a slight upward trend in the short term.

1. Volume:

• The trading volume reached its peak from 09:00 to 10:00 on April 19, when the price touched the lowest point at 2.04, and then the volume gradually decreased as the price steadily rose.
• The trading volume has been relatively stable in the recent few hours, with no abnormal volume spikes, consistent with the characteristics of price range oscillation.

※All content is provided by the intelligent analysis assistant Little A, and is for reference only, not constituting any investment advice!

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