At noon today, the price of Ethereum suffered a setback and fell below the 12-hour MA30-day moving average, but there is no sign of an effective break yet. In the short term, the price is still fluctuating around the MA30-day moving average. Judging from the feedback from the large-scale 3-day line, Ethereum is undergoing TD13 technical repair, and the 5-day line just showed a red TD13 today, which is also a signal to be repaired. In fact, the large-scale technical indicators need to undergo a round of in-depth adjustments. Even if they continue to rise in the short term, they must wait until the TD indicator is repaired before there is room for further rise.
Daily analysis:
Currently, KDJ and MACD show a dead cross pattern, and the BOLL indicator is still fluctuating upward, so the middle track area can be regarded as a short-term key support (around 3820). The MA5 and MA10 daily moving averages on the main chart show a slight downward pressure, indicating weakness, while the MA30 daily moving average is still rising, indicating that the support below is strong.
12-hour level analysis:
Currently, KDJ and MACD form a downward trend under the resonance of the dead cross, and BOLL shows a lateral downward shock in the short term, and the currency price breaks tentatively near the middle track. The MA5 and MA10 daily moving averages on the main chart turn down slightly and weaken, but MA30 has not yet linked with the shorts. Therefore, in the short term, we can refer to the daily BOLL middle track as the key support (the recommended support range below is around 3825-3800).
Summarize:
Although there has been a short-term decline and adjustment, we can still see the strength of the market makers to protect the price. Therefore, in the short term, Ethereum will only have a deeper correction if it effectively falls below the 3825-3800 range and stabilizes below. If the price fails to fall below this area, it may continue to fluctuate in the short term, and the market makers or institutions are still protecting the market. If it continues to rise, it may bottom out and continue to rise in volume. However, the large-scale technical aspects need to be adjusted to repair the indicators. If it continues to rise in the short term, it may also trigger panic in the market.
Key points:
The key support in the short term refers to the middle line of the daily BOLL (approximately in the 3825-3800 area).
- If the price successfully breaks down and stabilizes below this support level, a deep correction may occur in the future, with the target being the 3595-3450 area.
- If the price fails to effectively fall below the support range, there may be a round of upward momentum, and the subsequent target may be above $4,000 and challenge the year's high (4170-4390 range). However, after this round of upward momentum, there may be a risk of a large-scale decline and adjustment, commonly known as "pig killing".
The above is personal intraday market analysis and is for reference only.