6.9 Ethereum Afternoon Market Analysis and Trading Ideas
Ethereum's bulls once again surged to around 2550 this morning, then faced pressure and retreated. Meanwhile, the short position suggested in this morning's article at around 2530/2560 was also reached near our entry point. Bitcoin similarly reached our suggested entry point around 106000. The market is currently undergoing a technical pullback, and I believe friends who are paying attention have gained something.
From the daily technical indicators for Ethereum, the KDJ indicator's three lines are turning downward, while the MACD indicator is in a bullish contraction phase. The BOLL indicator has seen the price drop again to the lower band area and continues to open towards the lower band. The MA5 and MA10 moving averages are both consistently moving downward, and the price has again fallen below the five-day moving average. The RSI indicator shows a downward pressure posture, indicating there is strong selling pressure above, and the low point MA30 moving average continues to move downward. I personally expect that the trends in the afternoon and evening are likely to continue to oscillate downward as the main focus.
From the four-hour technical indicators, the KDJ indicator shows a death cross and is oscillating downward, while the MACD indicator is in a bearish expansion phase. The three-day moving average is arranged in a bearish downward pattern, and the short-term BOLL indicator is oscillating in the lower band area. The DIF and DEA indicators are pressuring downward together. In summary, considering both daily and short-term indicators, the trading idea for this afternoon remains unchanged, still recommending to short on rebounds.
The above is my personal afternoon market analysis, and specific points and directional changes should be guided based on real-time updates $ETH