Short-term Direction of ETH: Key Lies in the Dense Chip Zone

The 4-hour timeframe shows that ETH price is approaching the 3329.5 resistance level, which is currently the area with the highest concentration of positions. The buy/sell ratio is only 0.91, indicating strong selling pressure. Combined with member indicators, trading volume continues to shrink and is arranged in a bearish pattern, suggesting insufficient market activity and limited upward momentum. In addition, the candlestick top reversal pattern and KDJ death cross signal further confirm short-term pressure. Currently, the price is above the EMA24/52 moving averages, but if it falls below the 3264 support, it may accelerate a pullback towards the strong support at 3120.5. Pay close attention to the breakout direction in the high-concentration area. Activate membership to accurately capture changes in position distribution and lock in buy/sell points in advance!Data sourced from PRO members [ETH/USDT, a certain exchange, 4-hour] candlestick chart, for reference only and does not constitute any investment advice.