Li Shengting: 8.8 Ethereum Afternoon Market Analysis and Trading Ideas
Ethereum has been in a fluctuating upward trend in recent days. From the daily technical indicators, the KDJ technical indicator is still in a fluctuating upward stage. In the MACD technical indicator, both DIF and DEA indicators are moving upward together. The BOLL technical indicator shows signs of an upward opening, and the MA three-day moving averages are arranged in a bullish formation. However, the five-day moving average of Ethereum has shown a certain technical gap. I personally expect that Ethereum will likely conduct a gap repair before moving up.
From the 4-hour technical indicators, both KDJ and MACD indicators are showing signs of bullish contraction. The short-term BOLL technical indicator continues to open towards the upper track, while the short-term MA three-day moving averages are arranged in varying degrees of upward movement. It is also important to note that the upward magnitude of the short-term MA three-day moving averages has significantly weakened. Additionally, this afternoon, Ethereum attempted to break through the strong resistance above but did not effectively break through. I personally believe that the price is likely to undergo a new round of adjustments, so I expect that the price will undergo a technical pullback this evening. The ultra-short-term support to watch is around: 3790-3710.
The above is my personal afternoon market analysis for your reference only. Specific points are subject to real-time guidance: $ETH