Li Shengting: 12.22 Ethereum Evening Market Analysis and Trading Ideas
This morning, the price of Ethereum is still in a phase of fluctuating downward movement, but the downward momentum is not very strong. From the daily technical indicators, the KDJ indicator, MACD indicator, and BOLL indicator are still in a resonant downward phase. At the same time, the MA5 moving average and MA10 moving average are both continuing to apply downward pressure, while the MA30 moving average's upward momentum is continuously weakening. Currently, the price of Ethereum is also operating below the MA5 moving average and is showing a red TD6 fluctuation continuing to decline. Therefore, from the perspective of daily technical indicators, it is highly likely to remain mainly in a fluctuating downward trend.
From the 4-hour technical indicators, the ultra-short-term TD9 has not been fully repaired, and currently, TD9 is in a stable state. Since this morning, the short-term movement has still been sideways and downward, which has not resulted in an early interruption and repair of the TD indicators. According to the current situation, if the drop is not too significant before 8 PM, then the current green TD1 will have completed its repair. After the update and closing at 8 PM, Ethereum is expected to generate a new red TD1 for a bearish volume increase, so everyone should pay attention to the risks. In the auxiliary chart, the MACD's DIF and DEA continue to move downward, and the BOLL overall continues to open widely. Currently, the opening gap of the lower track is the strongest, which also indicates that there is still downward space in the short term.
Before 8 PM, the overall trend of Ethereum will tend to be mainly fluctuating (there may be a slight rebound, mainly to stabilize the current 12-hour green TD1). If the former is confirmed (meaning no drop before 8 PM), then everyone can pay attention after the update and closing at 8 PM, as Ethereum and Bitcoin are expected to experience a further volume decline during this period. Currently, the low support remains around the 3114-2900 area #加密市场盘整
The above is my personal evening market analysis, for everyone's reference $ETH