In the early hours of today, the price of Ethereum surged to a high of 2820 before falling back. At the same time, the current price of Ethereum has once again fallen below the MA30 moving average due to its suppression, indicating a potential bearish retracement as long as it does not break the 2757-2827 level in the short term.

From the daily technical indicators, the KDJ and MACD indicators are in a stage of golden cross and volume expansion, while the BOLL indicator is oscillating in a narrow range. However, the MA5 and MA10 moving averages are jointly pressing upward, while the MA30 moving average continues to suppress downward, indicating that the technical indicators have not continued to link up with the bulls for volume expansion.

Looking at the 4-hour technical indicators, although the KDJ and MACD indicators are in a strong state, the BOLL indicator shows that the price is closely attached to the middle track area, indicating insufficient short-term upward space. The three-day moving averages are in a bullish arrangement, but the upward sentiment today is not very strong. Therefore, overall, it is likely that the price will undergo a retracement adjustment in the early hours of today.

Ethereum: Short positions near 2755-2780, stop loss at 2837, target price at 2700-2650

Bitcoin: Short positions near 63900-64300, stop loss at 64900, target price at 63000-62600

This article has a time-sensitive nature. Please refer to actual trading guidance for specific operations. Please follow the WeChat public account: Trader Li Shengting for more information.

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