In-depth analysis of ETH market:
From the daily level, the price of Ethereum is running between MA5 and 10-day moving average. At present, the bullish sentiment of MACD indicator has weakened, indicating that the trading volume has decreased, while KDJ three lines show a downward divergence. This is a signal worthy of vigilance, because once the price falls below MA10 daily moving average (approximately in the 3410 area), the daily line in the short term may experience a retracement again.
Specifically to the 12-hour line, the trend of Ethereum appears to be relatively weak. MA5 daily moving average has begun to press down, and both MACD and KDJ indicators point to the possibility of oscillating retracement. Especially in the early morning hours, if the short side strengthens and causes the price to fall below 3410, then the price of Ethereum may enter a oscillating downward trend again.
Looking at the 4-hour line again, the current price of Ethereum mainly relies on the lower track for oscillation. Both MA5 and 10-day moving averages show signs of oscillation weakening. Although the lower track has not weakened synchronously at present, combined with the hourly line, Ethereum is currently more inclined to an oscillating downward structure. If the intraday K column shows an upward pin again, then this will further confirm the short-term oscillating downward trend. Therefore, it is recommended that investors keep a high-altitude mindset during the rebound.
For the intraday trend, we hold the view of short-term band operation and recommend mainly taking the rebound short order strategy. In the range of 3540-3490, you can short with a light position, and the stop loss is set at 3570 points. The target is 3400-3420. If 3400 is broken, you can consider continuing to hold short orders.
At the same time, the 3310-3340 range needs to be paid attention to below. This is a potential buying area, and the target can be set near 3430. This will provide investors with the opportunity to operate long orders at the right time.
