This morning, the price of Ethereum rebounded to around 2400, but then fell under pressure. From the perspective of the daily technical indicators, the rebound in the morning touched the strong resistance above and then oscillated downward. From the perspective of technical indicators, a certain technical gap repair has been completed, followed by oscillation and decline. Currently, the KDJ technical indicator is slowly shrinking in the bullish direction, while the MACD technical indicator shows a slight downward trend in coordination with DIF and DEA. From the current perspective, the rebound in the morning implies its end, so it is recommended to focus on shorting the rebound today.
Looking at the 4-hour technical indicators, both the KDJ and MACD technical indicators continue to weaken in the ultra-short term, and the BOLL technical indicator continues to weaken and trend downward. Currently, the price has not successfully stabilized above the MA5 daily average line, indicating a downward oscillation. Overall, the bullish rebound in the morning was quickly followed by a rapid decline, indicating strong selling pressure above. At the same time, the downward pressure range of the MA30 daily average line has increased, indicating a continuous increase in short positions. The ultra-short-term MA5 daily average line has once again shown a red TD1 short selling volume signal, so it is highly probable that the price will oscillate downward intraday today. It is recommended to focus on shorting at higher levels in trading strategy.
Ethereum: Short positions can be opened in tranches near 2340-2375, with a stop loss at 2413 and a target price of 2280-2250.
Bitcoin: Short positions can be opened in tranches near 56400-56800, with a stop loss at 57500 and a target price of 55600-54800.
The above is my personal market analysis in the early morning. If you have any questions, you can leave a comment in the comment section or follow my WeChat public account to find me.
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