Ethereum has been in a period of oscillation and washing recently. Last night, the price of the coin experienced a sharp drop to around 2590, followed by a rebound to a high point of around 2670. The fluctuation was around 100 points, mainly targeting the "all-in" players and heavy investors for profit-taking. Looking at the daily technical indicators, although the MA5 moving average has been continuously rising in the short term, it has not triggered a bullish volume with the MA30 moving average. This indicates insufficient upward potential for the ultra-short term. At the same time, the BOLL technical indicator remains in a close state, and the rising amplitude of the KDJ and MACD technical indicators has noticeably weakened. The MA5 moving average and MA10 moving average are still rising, but the MA30 moving average continues to decline. The MA5 moving average has weakened compared to yesterday. From a daily perspective, there is still strong resistance at the high point.

Looking at the 4-hour technical indicators, the KDJ and MACD technical indicators continue to maintain a bullish trend with continuous shrinking volume. Although the 3-day moving averages are still rising, the MA5 and MA10 moving averages have weakened. At the same time, the red TD13 has stabilized, and a red TD1 downtrend signal appeared at 8 o'clock this morning, indicating a high probability of further decline in the coin price.

Ethereum: Short positions near 2625-2660, stop loss at 2687, target price at 2550-2520

Bitcoin: Short positions near 64000-64600, stop loss at 65300, target price at 63200-62600

The above is a personal midday 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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