Li Shengting 8.20 Ethereum Evening Market Analysis and Trading Ideas
Ethereum's bearish trend continued with increased selling volume yesterday, and in the early hours of today, the price hit a low near 4060. From the daily technical indicators, today's KDJ and MACD indicators still maintain a dead cross downward trend. In the BOLL technical indicators, Ethereum has fallen to the lower band area, while a rebound sentiment has emerged. Currently, the support at the bottom is still very strong. Although the BOLL indicators continue to show a strengthening trend, the MA5 and MA10 moving averages remain under pressure, while the MA30 moving average continues to oscillate upward. Personally, I believe today's rebound will likely be near the five-day moving average, simply put, today's rebound is likely caused by the price not being able to break below the strong support near 4060. At the same time, as long as Ethereum cannot break through the MA5 line, which is around 4300, the price will continue to oscillate downward. It is important to pay attention to the 4300 level; once broken, the price will naturally continue to oscillate upward.
The above is my personal evening market analysis, for reference only, specific points are subject to real-time guidance $XRP $ETH
