Li Shengting: Ethereum Afternoon Market Analysis on 2.8

From the daily technical indicators of Ethereum, the KDJ technical indicator, MACD technical indicator, and BOLL technical indicator are still in a resonant downward phase. At the same time, the BOLL technical indicator continues to open towards the lower track, which indirectly indicates that there is still room for decline below. The three-day MA indicators are arranged in a bearish pattern, and the current coin price is also operating below the 5-day MA. Furthermore, Ethereum is currently in a red TD7, continuing to oscillate downward. Therefore, there is no significant change in the intraday trading strategy; it is still recommended to focus on shorting during rebounds.

From the 4-hour technical indicators, the KDJ technical indicator shows a death cross and continues to decline. The short-term BOLL technical indicator is also under continuous downward pressure. Meanwhile, the opening amplitude of the lower track has increased. The downward momentum of the short-term 5-day MA and 30-day MA is consistently strengthening, while the DIF and DEA are weakening in tandem. Overall, today’s basic trend remains oscillating downward. It is personally advised to short in batches during rebounds.