Ethereum has been in a narrow range oscillation phase in the evening. In the morning, it dropped from the high point near 3680 to the low point near 3490. Currently, the price is around 3530. From the daily technical indicators, the price is currently in a box oscillation. From the current technical structure, Ethereum will only undergo a major retracement if it effectively falls below the 3459-3402 range. If this range cannot be effectively broken, the price will continue to rise, with the next high point expected near the 3683-3720 area. The short-term trend will change if the subsequent trend is effectively broken or breached.

From the 12-hour technical indicators, both the KDJ and MACD technical indicators are in a box oscillation phase. The BOLL technical indicator is currently running in the middle track area, showing signs of upward movement. At the same time, the short-term MA5 moving average and MA10 moving average are pressing upward together, and the low point MA30 moving average is also slowly rising. Overall, we still maintain the idea of buying on retracements.

Ethereum can go long in the 3460-3500 area with targets at 3560-3600.

Bitcoin can go long in the 66600-67000 area with targets at 68300-69000.

The article has a time-sensitive nature, and specific operations are subject to actual trading guidance. Please follow the WeChat public account: Trader Li Shengting for more information.

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