Li Shengtian: 8.4 Ethereum Afternoon Market Analysis and Trading Ideas
Early this morning, Ethereum fluctuated upwards, and the bulls were in a volume expansion phase this morning. Subsequently, it began to enter a range fluctuation phase in the afternoon, with the high point reaching the 3575 line. From the daily technical indicators, the KDJ technical indicator and the MACD technical indicator are in a resonant downward state. The BOLL technical indicator shows that the price is close to the lower band area. The MA5 and MA10 moving averages continue to be in a fluctuating downward state, but the MA30 moving average has not continued to correlate with the bear volume. On the contrary, it is fluctuating upwards. However, the current price still has a certain technical gap with the five-day moving average. I personally believe that the price will still perform a gap fill before rising. At the same time, considering that the morning bulls have not effectively broken through and stabilized above the resistance level, I personally think that the price is likely to continue to undergo fluctuations and downward adjustments in the afternoon and evening.
From the 4-hour technical indicators, although the KDJ technical indicator has crossed upwards, the MACD indicator shows that the bulls are continuously reducing in volume. The DIF and DEA technical indicators are moving downward in coordination. Currently, the short-term Ethereum TD indicator is severely lagging, and the resistance at the short-term high MA30 moving average is relatively serious. Considering both daily and short-term indicators, I personally believe that the price is likely to undergo a technical pullback in the afternoon and evening. The low support can be referenced around: 3450-3380.
Ethereum: Short position near 3550-3575, Stop loss: 3637, Target: 3480-3450.
Bitcoin: Short position near 114500-115300, Stop loss: 116000, Target: 113000.
The above is my personal afternoon market analysis. Specific points and direction changes are subject to real-time guidance: $ETH .