The first televised debate of the 2024 U.S. presidential election will begin at 9 am today. Perhaps because the topic of cryptocurrency was not mentioned at all during the 90-minute debate, the price of the political meme coin suffered a sharp drop.

Ethereum's price fluctuated upward from around $3,326 to around $3,488 in the early morning of the 27th, but it was unable to reach a high point. As of the time of writing, it has fallen back to around $3,440, a drop of 0.23% in the past 24 hours.

Ethereum four-hour chart

First of all, according to the Bollinger Band indicator in the Ethereum 4H level chart, the current price of Ethereum is above the middle track and close to the upper track, indicating that the market is still in an upward trend. The upper track 3473 resistance is slightly strong. It broke through twice during the day but ultimately failed to stabilize, so we need to be alert to the risk of a pullback.

Secondly, according to the KDJ indicator in the Ethereum 4H level chart, the current KDJ three-line values ​​are all around 70, indicating that it is currently in the overbought area, and the K-line value and the D-line value have a downward trend, indicating that there will be a risk of a pullback in the short term.

Finally, according to the MACD indicator in the Ethereum 4H level chart, the DIF line and the DEA line are currently near the 0 axis, and the MACD red bar chart begins to gradually shorten, which shows that the bullish force is weakening and there is a signal of a short reversal.

Ethereum one-hour chart

First of all, according to the Bollinger Band indicator in the Ethereum 1H level chart, the current price of Ethereum is below the middle track and close to the lower track, indicating that the price is in a downward trend. If it cannot effectively return to the middle track, then there will be a risk of further decline.

Secondly, according to the KDJ indicator in the Ethereum 1H level chart, the three KDJ line values ​​are all running around 40, indicating that it is in the oversold area, but the K line value and the D line value have been turning downward, indicating that prices will continue to fall in the short term. Finally, according to the MACD indicator in the Ethereum 1H level chart, the DIF line and the DEA line are running below the 0 axis and have a downward adhesion trend. The MACD green bar chart begins to gradually increase, indicating that the bullish force is beginning to weaken and a reversal may occur.

Comprehensive analysis: According to the Bollinger Bands, KDJ and MACD indicators in the 4H level chart, the overall trend is still upward, but the KDJ indicator shows overbought, and there is a possibility of a correction. The MACD indicator shows that the bulls are weakening and may reverse to a short position at any time; According to the Bollinger Bands, KDJ and MACD indicators in the 1H level chart, the overall trend is weak, and there is a risk of further decline in the short term. Although the KDJ indicator shows that it is in the oversold area, the three-line value of KDJ still turns downward, and there is still a risk of decline. The MCAD shows that the bears are weakening and there is a possibility of a reversal upward.

In summary, the master gives the following suggestions for reference:

It is recommended to go long on Ethereum near 3430, with a target of 3475 and a stop loss of 3410.

It is recommended to short Ethereum near 3475, with the target at 3430 and the stop loss at 3488.

It is better to give you a correct idea and trend than to give you a 100% accurate suggestion. After all, it is better to teach a man to fish than to give him a fish. Suggestions can make money for a while, but ideas can make money for a lifetime! What matters is the idea, the grasp of trends, the layout of the market and the position planning. All I can do is to use my practical experience to help you so that your investment decisions and business management will go in the right direction.

Writing time: (2024-06-28, 20:10)

(Text - Daxian Talks About Coins) We hereby declare: Network publishing has delays, and the above suggestions are for reference only. The author is committed to research and analysis in investment fields such as Bitcoin, Ethereum, altcoins, foreign exchange, and stocks. He has been involved in the financial market for many years and has rich experience in real-time operations. Investment is risky and you need to be cautious when entering the market. $ETH