Coin Ocean Riding Waves: 5.8 Ethereum (ETH) Market Analysis Reference:

The daily market for Ethereum continues to show weak fluctuations. Observing from the daily chart, the current price of ETH is around 2290, having fallen below the middle Bollinger Band and the EMA20 moving average. The short-term moving averages EMA7 and EMA15 have crossed below EMA20, forming a bearish arrangement, and the mid-term upward trend line has been broken. The MACD indicator shows that DIF remains below DEA, and the histogram remains negative, with bearish momentum not yet diminishing; both RSI and KDJ indicators are weakening, displaying an overall bearish momentum. If there is no effective volume breakout above the 2300 mark in the short term, it is likely to maintain a weak consolidation within the range. The primary support below is near the lower Bollinger Band; if it breaks down, it is highly likely to continue testing lower levels.

Looking at the short-term hourly chart, the 4-hour Bollinger Band opens downward, and the price is running along the lower track, with short-term rebounds clearly suppressed by EMA7. The MACD indicator shows DIF is far below DEA, and bearish momentum is still being released; the RSI indicator's three lines are all in the weak zone below 50. Although the KDJ indicator is in the oversold area and a golden cross is emerging, indicating a potential demand for a short-term oversold rebound, the pressure from the middle Bollinger Band and EMA moving averages above is dense, and the rebound is likely to be weak, making it difficult to reverse the current bearish trend. If the rebound fails to break below the support at 2260, it will further open up downward space. It is recommended not to blindly chase longs; instead, wait for a retraction to stabilize at low levels before following the trend.

Coin Ocean Riding Waves: 5.8 Short-term Reference for Ethereum Tonight:

Short Position: Short in the range of 2375-2335, stop loss 30 points, target 2315-2265,

Long Position: Long in the range of 2235-2265, stop loss 30 points, target 2300-2340,

[The above analysis and strategies are for reference only. Please bear the risk yourself; the article may have delays after review and release, and the strategies may not be timely. Do not operate blindly.]

The content of this article is originally shared by [Coin Ocean Riding Waves], representing only personal opinions. The article may have delays in sending, for reference only, and avoid blind operation! Want to get more daily real-time trades? Then follow my public account. Here, you can engage in online technical learning, as well as learn knowledge about debt clearing and exiting. I have years of research experience in the market, focusing on the macro trends in the coin circle. Mainly responsible for analysis and guidance on the investment operations of BTC, ETH, SOL, BCH, and others. Welcome to study and research together.

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