Li Shenting: 8.1 Ethereum Midday Market Analysis and Trading Thoughts
Today, Ethereum also welcomed an update at the monthly level. From the perspective of monthly technical indicators, the KDJ indicator continues to strengthen, while in the MACD indicator, the DIF and DEA lines are oscillating near the central axis. The three-day moving averages are showing varying degrees of an upward arrangement. However, currently, the price remains technically separated from the five-day moving average. Regarding the monthly trend, I personally believe that the price will first fill the technical gap before proceeding with a resonant rise. The gap created on the monthly chart is relatively large, and if a forced rise occurs before this gap is repaired, it is definitely a sign that the market is targeting retail investors for liquidation.
From the daily technical indicators, the KDJ and MACD indicators are showing a dead cross and a downward trend. The price is once again operating near the middle band of the BOLL indicator, and currently, Ethereum is under pressure from both the five-day and ten-day moving averages, causing the price to break below the thirty-day moving average. Additionally, the downward pressure on the ten-day moving average has noticeably increased. However, the chips and buy orders at the bottom of the thirty-day moving average are relatively strong. In summary, looking at both the monthly and daily charts, I believe that the price is highly likely to continue its oscillating downward trend in the evening and early morning.
The above is my personal analysis for the evening market, for reference only. Specific points and directional changes are subject to real-time guidance.