In the early hours of today, after Ethereum's long position touched near the 2728 level, the long position volume continued to shrink. The strength of this rally was only a test of the strong resistance above and did not substantially break through. Currently, the 4-hour technical indicators for Ethereum and Bitcoin are both stabilizing at the red TD9. Short-term long positions should not be held, and should be exited when appropriate. Looking at the daily technical indicators, the KDJ and MACD technical indicators still show a strong desire for upward movement, but there is still a certain technical gap between the coin price and the MA5 daily average line. Although the MA5 daily average line continues to rise with the MA10 daily average line, the MA30 daily average line has not joined the long position in a volume surge, but continues to decline.

Looking at the 4-hour technical indicators, although the KDJ and MACD technical indicators continue to strengthen, the long position volume continues to shrink. The BOLL technical indicator is also running in the upper track area, and the coin price is closely attached to the upper track, indicating that the upward space is limited. At the same time, the amplitude above the MA5 daily average line has significantly weakened, so the coin price is likely to undergo a pullback during the day. The pullback strength will not be too strong, and attention can be paid to the 2650 level below.

The above is my 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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