Li Shengtian: Ethereum Midday Market Analysis and Trading Ideas on July 27
Over the weekend, Ethereum has been in a sideways consolidation phase. From the daily technical indicators, the KDJ indicator continues to be in a bearish crossover phase. The MACD indicators, DIF and DEA, are still under pressure and declining, while the RSI indicator is in a high-level consolidation phase. Meanwhile, the bullish volume is continuously decreasing, which indirectly reflects that the short-term correction has not completely ended. However, the BOLL indicator continues to rise, indicating that the overall trend remains bullish. Although the increase of the MA5 daily moving average is noticeably weakening, the MA10 and MA30 moving averages continue to strengthen. Today, Ethereum has successfully formed a green TD1. Combined with the daily technical indicators, it shows that there is still a significant technical gap at the daily level for Ethereum. I personally believe that the price will first undergo a round of pullback before making a recovery upward.
From the 4-hour technical indicators, the KDJ indicator shows a bullish crossover, but the MACD indicator continues to show a bearish crossover. There is a divergence in the short-term technical indicators. The short-term BOLL indicator continues to narrow, which suggests that the upward space in the short term is somewhat limited. The short-term MA5 and MA10 moving averages continue to cross downward, while the MA30 moving average is rising. From the current perspective, there is divergence in the short-term technical indicators. I still believe that the price will first experience a technical pullback before making an upward push towards the 4000 level.
Ethereum: Short near 3775-3810 with a stop loss at 3867, targeting 3710-3680.
Bitcoin: Short near 118000-118800 with a stop loss at 119500, targeting 117000-116500.
The above is my personal midday market analysis. Specific points and directional changes are subject to real-time guidance: $ETH