**Time Range**: 2026-01-26 16:00:00 ~ 2026-02-06 08:00:00
**Data Nature**: Real-time Candlesticks
## Candlestick Pattern Deep Analysis
1. **Early January peak around $3,044.55** - Double top formation followed by bearish engulfing pattern - Strong bearish signal
2. **Mid-January (around 01-30)** - Multiple red candles with minimal wicks forming a waterfall pattern - Strong bearish momentum - Very strong signal
3. **Late January to early February** - Attempted recovery with small green candles but failed to break above EMA7 - Weak bullish attempt - Moderate signal
4. **Early February (around 02-02)** - Failed rally with shooting star formation near $2,200 - Bearish reversal confirmation - Strong signal
5. **Mid to late February** - Consecutive red candles with increasing volume - Bearish continuation - Strong signal
6. **Latest candlestick at $1,860.21** - Potential hammer formation after reaching 24h low of $1,741.12 - Possible exhaustion of selling pressure - Moderate bullish signal
## Technical Indicator Analysis
1. **EMA Analysis**:
- EMA7 (1,961.98) below EMA25 (2,172.03) below EMA99 (2,593.19) - Strong bearish alignment indicating downtrend
- Price trading well below all EMAs - Confirms strong bearish momentum
2. **MACD Analysis**:
- MACD line (-23.65) below signal line with negative histogram (-144.31)
- Histogram showing consistent bearish momentum
- Recent slight convergence between MACD and signal line suggests potential weakening of bearish momentum
3. **Volume Analysis**:
- Significant volume spikes during major sell-offs
- Recent volume increase on the latest green candle - Potential buying interest emerging
## Support and Resistance Levels
**Resistance Levels**:
- Immediate: $1,960 (EMA7 level)
- Short-term: $2,200 (previous consolidation area)
- Medium-term: $2,590 (EMA99 level)
- Major: $2,870 (previous structure level)
**Support Levels**:
- Immediate: $1,740 (recent low)
- Medium-term: $1,700 (psychological level)
- Major: $1,600 (potential next support if current level breaks)
## Comprehensive Technical Evaluation
The ETH-USDT pair is in a clear downtrend with all EMAs aligned in bearish formation. The price has declined approximately 30% from the January peak. Volume has been higher on downward movements, confirming selling pressure. However, the latest candlestick shows potential exhaustion of selling with increased volume, suggesting possible short-term relief.
## Conclusion
ETH-USDT is in a strong bearish trend with significant downside momentum. Traders should consider:
1. **Short-term strategy**: Watch for confirmation of reversal with additional green candles and increasing volume before considering long positions.
2. **Risk management**: Any long positions should have tight stop losses below $1,740.
3. **Entry considerations**: Current price ($1,860) sits at a potential short-term bottom, but requires confirmation.
4. **Risk warning**: Despite potential short-term relief, the overall trend remains bearish until price reclaims the EMA7 level.
For Binance users, this could present a potential opportunity for short-term traders to monitor for reversal signals while maintaining caution due to the strong bearish trend.