Li Shengtian: 8.25 Ethereum Evening Market Analysis and Trading Ideas
In the early hours of today, after the Ethereum price rose to around 4960, it began to decline. From the current perspective, the price has just touched the upper resistance level around 4900 and then showed a downward pressure. This also indicates that the major players bought in the vicinity of 4100, with the profit-taking point being around 4900. As for the decline during the early hours, it was due to the absence of new major players or institutions taking over, and the market simultaneously believed it was at a high point, so the price naturally fell in line with the trend. Returning to the market situation, looking at the daily technical indicators, the KDJ indicator's three lines are at a high value of 80, while the MACD indicator shows signs of a sustained decrease in bullish momentum. Additionally, Ethereum has already produced a green TD9 signal. In comparison, Bitcoin's performance appears to be weaker relative to Ethereum, as it has already fallen below the 5-day and 10-day moving averages, with the KDJ and MACD indicators showing a death cross and resonating downward. From the perspective of Bitcoin, large holders and institutions have started to continuously sell their positions at high levels, and the strength of the decline will need to be judged further according to the support levels.
Currently, the daily technical indicators for Bitcoin, including KDJ, MACD, and BOLL, are generating extremely strong bearish resonance. The MA three-day moving averages are in a bearish arrangement and declining, and currently, Bitcoin's price has dropped below the 5-day moving average. From the current situation, it is highly likely that today will continue with a fluctuating decline.
Ethereum: Short in batches around 4555-4585. Stop loss: 4647. Target: 4460-4400.
The above is my personal evening market analysis and trading ideas. Specific points and directional changes are subject to real-time guidance.
