Li Shengting: Ethereum Market Analysis and Trading Strategy for October 21 at Noon

CN
李聖庭
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10 hours ago

Ethereum's price has once again dipped to around 3830 this morning, just touching the bottom support near 3838. Before analyzing the market, it's worth noting that Ethereum and Bitcoin's ETFs have seen outflows for several consecutive days, indicating that recent sentiment is not very high. From the daily technical indicators, Ethereum is still in a triangular convergence area, undergoing oscillation and consolidation. The KDJ and MACD indicators are showing an upward trend, while the BOLL indicator has dropped to the middle track area but has not triggered a bearish volume increase, suggesting that there is some buying pressure from bulls in this area, preventing the price from breaking down. The 5-day and 10-day moving averages are also showing a slight upward trend. Currently, the support at the bottom remains very strong, and I personally believe that as long as the bottom support holds, the price will trend towards a rebound.

From the 4-hour technical indicators, the KDJ and MACD indicators are showing a slight upward oscillation. The BOLL indicator is at the middle track area, with the price closely following the middle track. Meanwhile, the DIF and DEA indicators are pressing upwards together. The short-term 30-day moving average continues to strengthen. Given that the price has not broken the bottom support, a technical rebound is likely. The upper resistance level to watch is around 4153-4267. If it stabilizes and breaks through, it will indicate the end of this round of correction, and the price will continue to push towards higher points along with the market.

Ethereum: Buy in batches around 3875-3845. Stop loss: 3767. Target: 3975-4050.

Bitcoin: Buy in batches around 107500-107000. Stop loss: 105500. Target: 109000-110000.

Finally, I personally expect that Ethereum's price will likely oscillate upward today. The bottom support can be referenced around 3830-3760. If this area is broken, we will face a second waterfall!

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