5.6 Ethereum Market Analysis

Still fluctuating in a range around 1800, the short-term analysis approach remains largely unchanged.

From a technical perspective, there hasn't been much change compared to yesterday. Currently, the daily MA5 and MA10 have slightly turned down, but the MA30 below has strengthened its upward trend (this indicates that the short-term indicators are still in a consolidation phase; the simultaneous downward turn of the indicators suggests strong resistance above, while the strength of the upward turn of MA30 below indicates that there is still strong confidence in the upward trend). Other technical changes are also not significant, so there's no need to reiterate.

At the 12-hour level, the current MA5 and MA10 are turning down in a consolidated manner, but MA30 continues to strengthen upward. Currently, some indicators are in conflict, and the Bollinger Bands are also narrowing and fluctuating. Personally, I estimate the short-term will still hover around 1800 with a range of plus or minus 40 points. Moving forward, attention can be paid to tomorrow's interest rate meeting; the recent fluctuations are likely a preparation for this meeting. #ETH