Li Shengting: 12.9 Ethereum Midday Market Analysis and Trading Ideas
Today is Monday, which is also the day of the weekly update. From the perspective of weekly technical indicators, Ethereum has a significant technical gap, and the BOLL technical indicator is in a severe breakdown situation. Therefore, a technical pullback this week is inevitable.
From the daily technical indicators, the KDJ technical indicator is showing an overbought signal, and the MACD technical indicator is also experiencing varying degrees of volume reduction. Although the 3-day moving average (MA) maintains an upward trend, the upward momentum of the 5-day moving average (MA) has significantly weakened, and a green TD13 appears in the daily technical indicators. Thus, from the daily perspective, we still anticipate a technical pullback.
From the 4-hour technical indicators, the KDJ technical indicator is at a high dead cross, and the MACD technical indicators' DIF and DEA are also in a high cross situation. If the dead cross stabilizes, it will be followed by an increase in bearish selling pressure. Furthermore, today's trading volume indicates weakening large bearish candlesticks, and the short-term 5-day moving average (MA) and 10-day moving average (MA) show continuing weakened upward momentum. Therefore, considering both short-term and daily perspectives, it is highly probable that the cryptocurrency price will undergo a technical pullback today.
Ethereum: Short near the area of 3880-3905 Stop loss: 3948 Target: 3820-3780
Bitcoin: Short near the area of 98500-98900 Stop loss: 99600 Target: 97200-96600
#山寨季将持续多久？ #BTC #ETH $ETH $BTC
