5.8 Ethereum Market Analysis

During the early morning, Ethereum fluctuated upward. By 8 AM, the bulls showed significant improvement, and at 11 AM, the market accelerated. Ethereum is now expected to challenge the 1950-2050 range, while Bitcoin is once again testing the 100,000 mark, indicating positive market sentiment.

On the daily chart, the current KDJ and MACD have accelerated upward, while BOLL continues to fluctuate upward. However, Ethereum's price has reached near the upper band (it is estimated that there will be a slight pullback after a touch, but the strength is unlikely to be too strong); on the main chart, the current MA's three-day moving averages are arranged upward, and the daily chart has already shown a strong upward signal (primarily led by Bitcoin's aggressive upward attack).

On the 12-hour chart, the current KDJ and MACD have made significant upward turns, with BOLL showing an opening. However, Ethereum's price has broken the upper band (it is estimated that there will be a slight adjustment, with the adjustment time possibly around 8 PM); on the main chart, the current MA's three-day moving averages are strongly rising, basically making the 12-hour and daily chart technical movements quite similar.

Summary: I personally expect that today, during the day (around 8 PM), Ethereum will have a slight pullback adjustment, with the strength likely not being too strong. The lower support reference is in the 1870-1830 range. Note that as long as the pullback does not effectively break below the support, Ethereum will continue to increase in volume and challenge the 2050-2100 resistance, making short positions risky!