This evening and during the early morning, Ethereum is undergoing a technical adjustment and pullback as expected. Currently, Ethereum is fluctuating around the 2470 level. From the daily technical indicators, the KDJ and MACD indicators show a continuous reduction in bullish momentum, the BOLL indicator is operating in the middle band area, and the MA5 moving average shows signs of a downward turn. At the same time, Ethereum has stabilized above the green TD9 signal. I personally believe that the price of Ethereum is likely to continue fluctuating downwards during the early morning.

From the 4-hour technical indicators, the KDJ and MACD indicators are showing a death cross and fluctuating downwards. The short-term BOLL indicator has dropped to the middle band area, while the MA5 and MA10 moving averages are trending downwards. This indicates that the short-term bearish momentum has not yet ended. However, the bottom MA30 moving average shows signs of strengthening, which also suggests that the bottom support is relatively strong. Therefore, the strategy for the early morning is to primarily focus on shorting during rebounds.

Ethereum: Short in portions around 2490-2530. Stop loss: 2593. Target: 2420.

Bitcoin: Short in portions around 103500-104200. Stop loss: 105600. Target: 102000.

The above is my personal analysis of the market during the early morning for your reference.

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