Ethereum's price dipped to around 2477 during the early hours today. From the daily technical indicators, the KDJ indicator is in a high position and crossing downwards, while the MACD indicator's DIF shows signs of a downturn. The bullish momentum is also continuously shrinking, and the MA5-day moving average shows clear signs of weakening. However, the MA10-day and MA30-day moving averages still show signs of strength. Currently, the bears appear to have halted the decline, and the support level below the short-term trend line remains relatively strong. After a bottom adjustment, it quickly rebounded to around 2560. I personally believe that the price is likely to continue testing the bottom support.

From the 4-hour technical indicators, although the KDJ and MACD indicators show clear signs of shrinking bullish momentum, the BOLL indicator is currently operating in the middle band area, and the price continues to rise. In the short term, although the MA5-day and MA10-day moving averages show clear signs of shrinking, the high MA30-day moving average remains very strong. I believe that the intensity of the decline in the early hours did not substantially break the bottom support, so I still recommend focusing on shorting during the rebound.

Ethereum: Short in portions around 2560-2590. Stop loss: 2637. Target: 2500-2470.

Bitcoin: Short in portions around 103500-104000. Stop loss: 105300. Target: 102000-100000.

The above is my personal market analysis from the early hours, for reference only.

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