Li Shengtian: 8.8 Ethereum Midday Market Analysis and Trading Ideas

Ethereum has been in a fluctuating upward trend in recent days. From the daily technical indicators, the KDJ indicator is still in a fluctuating upward phase, while the MACD indicators DIF and DEA are both moving upward in coordination. The BOLL indicator shows signs of an upward opening, and the three-day moving averages are arranged in a bullish formation. However, there is a certain technical gap in the five-day moving average of Ethereum. I personally expect that Ethereum will likely repair this gap before continuing to rise.

From the 4-hour technical indicators, both the KDJ and MACD indicators show signs of bullish contraction. The short-term BOLL indicator continues to open towards the upper band, and the short-term three-day moving averages are arranged in varying degrees of upward movement. It is also important to note that the upward momentum of the short-term three-day moving averages is significantly weakening. Additionally, this afternoon, Ethereum attempted to break through the strong resistance above but did not effectively succeed. I believe that the price is likely to undergo a new round of adjustment, so I expect that this evening the price will experience a technical pullback. The ultra-short-term support to watch is around the 3790-3710 range.

The above is my personal midday market analysis for reference only. Specific points should be based on real-time guidance.

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