Li Shengting: 12.1 Ethereum Evening Market Analysis and Trading Ideas
Today, Ethereum has also welcomed the update of the monthly line. From the technical indicators of the monthly line, both the KDJ and MACD indicators are in a death cross structure. At the same time, the BOLL indicator shows that the price has fallen below the middle track area, and currently, the price is oscillating downwards close to the middle track area. Moreover, from the monthly line technical indicators, Ethereum's price has also dropped below the MA30 daily moving average this month, but there is a certain technical gap in the monthly Ethereum price.
From the daily line technical indicators, the KDJ indicator shows a significant downward trend, while the BOLL indicator continues to weaken, and the lower track shows signs of a slight opening. This indicates that the bearish sentiment of the falling gap is extremely strong, and all MA three-day moving averages are under significant pressure, with the MA30 daily moving average accelerating downwards. Therefore, from a daily perspective, we still recommend focusing on short positions, with the first support level adjusted to the area around: 2563-2400.
Finally, I personally expect that the price of Ethereum will likely experience a downward fluctuation tonight and in the early morning, with the first support level still referring to the area around 2563-2400.
The above is my personal evening market analysis for reference only, with specific points and directional changes subject to real-time guidance $ETH
