Li Shengting: 1.10 Ethereum Early Morning Market Analysis and Trading Thoughts
In the early morning, Ethereum was in a range-bound phase, with the price dropping to the 3200 line in the evening, but fortunately it did not break through. From the daily technical indicators, the KDJ and MACD indicators are maintaining a bearish resonance. However, from the daily perspective, there are two lower shadows appearing. From the technical indicators, the current short-term bearish trend shows obvious signs of decreasing volume. Considering that the current price has created a certain technical gap with the MA5 daily moving average, there is a rebound demand for the daily price. Although the daily trend is bearish, the short-term is still likely to repair the MA5 daily moving average gap. Personally, I believe it will rise first and then fall, as the overall trend is still bearish.
From the 4-hour technical indicators, the KDJ indicator is in a range-bound phase, the MACD indicator shows signs of decreasing volume in the bearish trend, and the MA30 daily moving average does not show signs of a bearish breakout. The BOLL indicator is operating in the lower band area. Overall, the early morning price is likely to focus on a rebound, moving upward in a range. Specific points will be based on those given in the afternoon.
The above is my personal early morning market analysis, for reference only $ETH