Today, the price of Ethereum rebounded to around 2667 at noon, followed by a period of oscillation and adjustment. In the evening, the downward trend directly broke the overall upward momentum. From the daily technical indicators, the KDJ technical indicator showed a shrinking volume and signs of a downward turn in the three lines. The MACD technical indicator also pushed down with DIF and DEA, while the rebound strength at noon did not effectively fill the gap of the MA5 moving average, leading to a downward pressure on the coin price. This can also be understood as the "whales" first luring in long positions, and then causing a decline. Currently, Bitcoin next door is in a green TD13 lagging state, synchronized with Ethereum. Considering the overall downward momentum in the evening from a technical perspective, it is not over yet, and the morning rebound can be understood as a lure for long positions.

Looking at the 4-hour technical indicators, the KDJ technical indicator was forcibly pushed down from an upward momentum, while the MACD technical indicator is in a bullish shrinking state. The BOLL technical indicator is in a downward posture with a slow opening downward, and the MA30 moving average continues to suppress downward. The MA5 and MA10 moving averages are also in a downward posture. Taking into account the daily and ultra-short-term perspectives, this round of downward momentum is not over yet, and the trading strategy in the early morning can be to short the rebound.

Ethereum: Short near 2600-2620 Stop loss: 2657 Target: 2560-2540

Bitcoin: Short near 62800-63300 Stop loss: 63800 Target: 62300-61700

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The above is my personal early morning market analysis. 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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