Li Shengting's 5.12 Ethereum Midday Market Analysis and Trading Strategy
From today's Ethereum daily technical indicators, the coin price reached a high point near 2540, then faced pressure and fell back. Currently, the KDJ technical indicator shows a bullish contraction adjustment, and the MACD indicator along with the DIF and DEA indicators are crossing downwards. From the daily perspective, the technical gap created by the recent increase has not been fully filled, and nearby Bitcoin is also showing a red TD3 bearish signal, while Ethereum shows a green TD9 trend, indicating a certain lag compared to Bitcoin's movement. Therefore, I personally believe that there is a high probability of a new round of technical adjustments continuing in the afternoon.
From the 4-hour technical indicators, the KDJ and MACD indicators show obvious signs of bullish contraction. The MA5 and MA10 moving averages are closely aligned and pressing down, while the high point MA30 moving average continues to weaken. The BOLL indicator is operating near the lower band area and has not correlated with the coin price. Considering the daily and short-term technical indicators, I personally believe that the afternoon will continue to favor technical pullback adjustments.
Ethereum: Short in the range of 2500-2530, Stop Loss at 2578, Target at around 2450-2420.
Bitcoin: Short in the range of 104000-104500, Stop Loss at 105800, Target at around 103000-101500.
The above is my personal midday market analysis, for reference only #ETH突破2500 #贸易战缓和 $ETH