5.5 Ethereum Market Analysis

From a weekly perspective, this week the KDJ has sharply turned upwards. The main chart shows that Ethereum has firmly remained above the MA5 moving average this week. Additionally, the MA5 moving average has also shown an upward turn this week (with a magnitude greater than last week). With the MA5 moving average accelerating upwards, Ethereum's price has also risen above the MA10 moving average, arranged in a green TD2 upward sequence. Reviewing the period from 4 AM to 9 AM, Ethereum experienced a pullback adjustment. This pullback has technically repaired the price gap between the cryptocurrency and the MA5 on the weekly chart, completing the bottoming out process ahead of time.

From a daily perspective, the current KDJ and MACD are still oscillating around the mid-axis (indicating that the recent oscillation rhythm has been relatively prolonged). However, the trading volume has exceeded the previous two days (suggesting that a one-sided market is about to arrive). In terms of BOLL, it continues to oscillate upward; although today the main K closed below the five-day moving average, both the MA5 and MA10 are still showing strength. Furthermore, the main K closed with a lower shadow (indicating a quick bottoming attempt to build support), so we continue to see oscillations upward in the short term, with strong resistance still referenced in the 1950-2050 range. #ETH🔥🔥🔥🔥🔥🔥