Good afternoon everyone. I am Li Shengting. I walk on thin ice with a mentality of always being in awe of the market.
From the daily level, after the rise in the early morning and this morning, the current technical form of Ethereum can be said to have returned to the stage of strong bullish dominance. From the current technical indicators, KDJ and MACD golden crosses are rising, BOLL's current upper track is opening, and the lower track and middle track are slightly rising; the three-day MA moving averages of the main chart are still in a bullish arrangement and continue to rise, so overall, the current trend of the daily line is still bullish. However, for the short term, because of the sharp rise in the early morning and this morning, the price of the currency and MA5 have derailed (commonly known as the generation of technical gaps), so it is estimated that the price of the currency will first make a wave of technical retracements to repair the gap between the price of the currency and MA5. The low support price can be referenced near the daily MA5 and MA10 daily moving averages (note that the retracement is only a technical repair, so as long as the price of the currency cannot effectively fall below the daily MA5 or MA10, the bulls will naturally continue to rise).
From the perspective of Ethereum at the 4-hour level, the overall performance of KDJ and MACD at the 4-hour level is still quite good, but KDJ has broken at present, but KDJ is doing quite well overall (the whole track is in the opening stage); the three-day MA in the main chart also continues to rise in a bullish arrangement, but everyone should note that Bitcoin and Ethereum are currently standing firmly in the green TD9, so in the short term, it is better to look at the side to step back and repair more.
I personally expect that the currency price will first undergo a certain technical retracement and repair today, with the low support price referenced around the 1880-1850 area; note that if this short-term technical retracement cannot effectively fall below the low support price, the subsequent currency price will continue to rise, and the high point strong pressure adjustment reference will be around the 1976-2044 area.
