Li Shengting: 7.31 Ethereum Midday Market Analysis and Trading Ideas
During the early hours today, the price of Ethereum dipped down to around 3670, and then began to rise with volatility. From an experiential perspective, the early morning drop is likely a fake-out signal given by the market makers. Currently, the price has returned above 3860 and the chips continue to be pushed higher. I personally believe that after the market makers have completed their accumulation and shakeout, the price will likely attempt to rise again. At the same time, I want to remind everyone that in front of absolute market control by the market makers, technical analysis can only assist but cannot be entirely accurate. Returning to the market trend, from the daily technical indicators, the KDJ indicator shows an upward crossover, while the MACD indicator is in a phase of slow bullish expansion. The BOLL indicator is again operating near the midline, and the price is tightly adhering to the upper band, showing slight opening signs. Currently, the price is steadily above the five-day moving average, and the low point of the 30-day moving average is continuously rising. Just from the daily perspective, the price is likely to experience an upward fluctuation today.
From the 4-hour technical indicators, the KDJ and MACD indicators show a golden cross and continue to strengthen, with the DIF and DEA indicators moving upward together. The RSI indicator is also slowly rising. Currently, both Ethereum and Bitcoin are stabilizing at the green TD3 upward signal, while the short-term three-day moving averages are in a bullish arrangement. Overall, considering both the daily and short-term analysis, I personally estimate that the midday trend today will likely be dominated by upward fluctuations.
Ethereum: Long positions around 3870-3835 Stop-loss: 3806 Target: 3950-3980
Bitcoin: Long positions around 118500-117800 Stop-loss: 116700 Target: 120000
The above is my personal midday market analysis, specific points and direction changes are subject to real-time guidance $ETH