Li Shengting: 6.5 Ethereum Afternoon Market Analysis and Trading Thoughts
Ethereum has been oscillating around 2600, and the short position suggested around 2660 earlier today has shown good potential so far. From the daily technical indicators, Ethereum is still under pressure above the five-day moving average. The KDJ indicator's three lines are turning downward, and the MACD indicator shows a downward crossover between the DIF and DEA indicators. The BOLL indicator is oscillating around the middle band, and the VOL indicator shows a gradual decrease in trading volume. Currently, Ethereum has formed a red TD2 pattern, and the technical gap created by the MA five-day moving average has not been fully filled. Considering the resistance to upward movements and the lack of substantial breakthroughs, I personally believe that short-term prices will continue to trend downward.
From the four-hour technical indicators, the KDJ and MACD indicators show a continued decrease in short-term bullish volume. The MA five-day and MA ten-day moving averages are both trending downward. The short-term BOLL indicator has dropped below the middle band, and although the low-point MA thirty-day moving average continues to strengthen, the pressure on the high point has not weakened. Overall, based on both daily and short-term perspectives, I believe that this afternoon the coin price is still inclined toward oscillating downward.
The above is my personal afternoon market analysis for your reference