ETH intraday market analysis on January 8

After the market hit the strong pressure and crashed, the low point of Ethereum also came directly to the starting point of 3300 (this position is also the first key support area in the short term). Now the downward box has come out. Next, I personally expect that the short-term will rebound and adjust technically (mainly because it was smashed too hard yesterday). In the short term, Ethereum will rebound and repair technically above 3300. After the rebound, Ethereum will launch a breakout test at 3300. Everyone should pay attention to the risks.

In terms of the daily line, the current KDJ and MACD have a large dead cross and weakened, and the BOLL trend has turned to bearish. At the same time, the price of the currency has also seen a technical change of breaking the middle track. In terms of the main chart, the MA three-day moving averages continue to fall in different degrees, but the five-day moving average has a large gap with the current currency price. At the same time, Ethereum has hit the key support area of ​​3300. It is normal for the required ultra-short-term bottoming rebound repair.

In fact, we can see from a technical point that the mainstream market crash this time is that the daily BOLL has not opened, but has continued to suppress downward, which means that the room for growth is limited (I have reminded everyone in the intraday analysis yesterday that the weakness of Bitcoin during the day is a foregone conclusion. If Ethereum is dragged down by Bitcoin to 3650, you have to consider stop loss or reverse. In fact, everything has a trace. Be rational in facing stop profit and stop loss, learn to review, and you will go further).

Secondly, the technical trend of the 12-hour line is similar to that of the daily line, and the 4-hour line TD indicator is close to TD9. At the same time, the decline of the 4-line is very thorough on one side, and there is no rebound in the middle. Then Ethereum has already touched the low point support, and it is reasonable to rebound and repair in the future.

Summary: It is expected that today's short-term intraday will make a small rebound and repair after oversold. The high point may be repaired in the range of 3440-3500 (note that the rebound may not be too strong). The subsequent adjustment sentiment may terminate at any time, which also means that Ethereum will also receive the second wave of large-scale decline in the box. The first key support of the low point is still 3300, and the second support of the bottom is around 3000.