Li Shenting: 12.16 Ethereum Market Analysis and Trading Ideas
During the weekend, Ethereum has been in a sideways decline trend. Fortunately, our long positions are still being held. I believe those who have been following the articles have noticed that we also added some positions near the lows, with an average price around 3850. Returning to the market situation, from the daily technical indicators, the KDJ and MACD indicators are in a state of oscillation and stabilization, while the MA30-day moving average continues to rise. In the short term, the trend still suggests focusing on buying on dips. Meanwhile, the MA5-day and MA10-day moving averages on the daily chart are converging upwards, indicating that the short-term price trend remains relatively strong.
From the 4-hour technical indicators, the KDJ, MACD, and BOLL indicators are in a state of oscillation. The BOLL indicator is currently running closely along the middle band, with the short-term MA10 and MA30 moving averages oscillating upwards. As it stands, there is hope for a breakout above 4000 this week. Therefore, the trading strategy remains unchanged, with a recommendation to focus on buying on dips.
The above is my personal market analysis from the early morning, for everyone's reference. #比特币战略储备 #BTC #ETH $ETH