This morning, Ethereum experienced a fluctuating upward trend. By early morning, the bulls were in a volume expansion phase, and then around noon, it began a range-bound fluctuation phase. Currently, the high point has reached around 3575. From the daily technical indicators, the KDJ and MACD indicators are in a resonant downward state. The BOLL indicator shows that the price is close to the lower band. The MA5 and MA10 moving averages continue to trend downward, but the MA30 moving average has not sustained a correlation with the bearish volume expansion; instead, it is fluctuating upward. However, the price still has a certain technical gap with the five-day moving average. I personally believe that the price will still undergo a gap filling before rising. Considering that the morning's bullish volume did not effectively break through and stabilize above the resistance level, I believe that the price is likely to continue fluctuating downward in the afternoon and evening.
From the 4-hour technical indicators, although the KDJ indicator has crossed upward, the MACD indicator shows that the bullish volume is continuously decreasing, and the DIF and DEA indicators are moving downward together. Currently, the short-term Ethereum TD indicator is severely lagging, and the short-term high point is under significant pressure from the MA30 moving average. Overall, considering both the daily and short-term perspectives, I believe that the price is likely to undergo a technical pullback in the afternoon and evening, with support levels around: 3450-3380.
Ethereum: Short near 3550-3575, Stop Loss: 3637, Target: 3480-3450
Bitcoin: Short near 114500-115300, Stop Loss: 116000, Target: 113000
The above is my personal analysis of the market in the afternoon. Specific points and directional changes are subject to real-time guidance.
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