Li Shengting: 12.22 Ethereum Evening Market Analysis and Trading Ideas
This morning, Ethereum's price continues to be in a phase of oscillating downward, but the decline is not too strong. From the daily technical indicators, the KDJ, MACD, and BOLL indicators are still in a resonant downward phase. At the same time, the MA5 and MA10 moving averages continue to exert downward pressure, and the increase of the MA30 moving average is continually weakening. Currently, Ethereum's price is also operating below the MA5 moving average and showing a red TD6 oscillation and continued decline. Therefore, from the perspective of daily technical indicators, it is highly likely that the main trend will continue to be oscillating downward.
From the 4-hour technical indicators, the ultra-short-term TD9 has not fully repaired, and TD9 is currently in a steady state. Because the short-term is still oscillating downward, there has been no early interruption and repair of the TD indicators. According to the current situation, if there is no significant decline before eight o'clock in the evening, the current green TD1 will have completed its repair. After the update and closing at eight o'clock, Ethereum will move into a new red TD1 for a bearish volume increase. Please pay attention to the risks. On the auxiliary chart, the MACD’s DIF and DEA continue to move downward, and the BOLL is overall continuing to open widely. Currently, the opening width of the lower track is the strongest, indicating that there is still downward space in the short term.
Before eight o'clock in the evening, Ethereum's overall trend will be biased towards oscillation (a slight rebound may occur, mainly to stabilize the current 12-hour green TD1). If the former is confirmed (meaning no decline before eight o'clock in the evening), then everyone can pay attention to the time after the eight o'clock update and closing. Ethereum and Bitcoin will again have a volume decline during this period. The current low support is still referenced around the 3114-2900 area #加密市场盘整
The above is my personal evening market analysis for your reference $ETH