Today, the price of Ethereum rebounded from around 2277 to the 2393 level in the early morning. The bearish trend of Ethereum last night was very healthy, but this round of rebound in the early morning disrupted the technical trend directly. Another point is that the frequency of market trading control is increasing this year, which indirectly indicates economic recession and a worrying overall environment. Currently, both the weekly and monthly trends are downward. As long as the weekly trend does not change, the main focus this week will still revolve around the bearish mindset.

From the daily technical indicators, although the KDJ and MACD indicators have slightly oscillated upwards again, the BOLL indicator overall continues to weaken. The MA5 moving average is rising, but it has not driven the MA10 moving average to strengthen, instead continuing to weaken. The high point MA30 moving average continues to decline. Although today's candlestick chart continues the bullish arrangement, the bullish volume is struggling. Currently, the daily trend does not seem particularly stable.

Looking at the 4-hour technical indicators, the KDJ and MACD indicators are similar to the daily trend, and the BOLL indicator still maintains a downward oscillation posture. Although the decline of the high point MA30 moving average has weakened, the overall trend is still weak. Therefore, whether the short-term coin price can effectively break through the 12-hour MA30 will determine the subsequent short-term trend. If the rebound strength in the short term cannot effectively break through and stabilize above 2400, then the bears will increase their selling volume with stronger force.

Note: The 12-hour MA30 price reference is at 2400

Ethereum: Short positions can be opened in the range of 2360-2385, stop loss at 2410, target price to see: 2300-2280

Bitcoin: Short positions can be opened in the range of 58100-58600, stop loss at 59300, target price to see: 57300-56600

The above is my personal analysis of the early morning market. 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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