Li Shengting: 6.8 Ethereum Midday Market Analysis and Trading Strategy
During the weekend, the price has been leaning towards a range-bound oscillation phase. From the daily technical indicators, the KDJ and MACD indicators are oscillating around the mid-axis area. The BOLL indicator has also fallen from the middle band to the lower band. The RSI indicator is in a high-level oscillation, and the VOL indicator shows a significant decrease in trading volume. The 5-day and 10-day moving averages are still under pressure, but they have not linked to the 30-day moving average for a bearish breakout. I personally expect the price to remain biased towards a downward oscillation during the day.
From the 4-hour technical indicators, the KDJ and MACD indicators are in a phase of oscillation and adjustment. The 3-day moving averages continue to oscillate downwards, and the BOLL indicator operates in the mid-axis area but has not opened upwards. In the short term, Ethereum has a red TD3 signal, but the bears have not continued to open, indicating that the trading volume during the day is still relatively weak. I expect the afternoon and evening trends today to primarily focus on downward oscillation.
Ethereum: Short near 2520-2550 : 2587 Target: 2450-2400
Bitcoin: Short near 105500-106000 Stop-loss: 106800 Target: 102000
The above is my personal midday market analysis, for reference only. Specific points and directional changes are subject to real-time guidance. $ETH