Ethereum experienced a round of pullback adjustment early this morning, with the lowest point touching around the 4200 level, just reaching the bottom support line of 4220-4160. However, the bears did not continue to increase selling pressure at 8 AM, which indirectly indicates that the support at the bottom is very strong. From the daily technical indicators, the KDJ indicator shows a slight upward trend, while the MACD and BOLL indicators are leaning towards slight oscillation downward. The MA5 and MA10 moving averages continue to suppress downward, but it is important to note that the MA30 moving average is in a fluctuating upward trend. From previous reviews, the MA30 moving average is generally in a downtrend for the coin price, but from the current perspective, the support at the bottom is very strong. Additionally, Ethereum has already generated a green TD1 upward signal, which also indicates that Ethereum and Bitcoin are about to resonate and rise together.

From the 4-hour technical indicators, the KDJ indicator shows a golden cross and is slowly oscillating upward, while the MACD indicator continues to oscillate downward. The BOLL indicator continues to oscillate downward, but the opening of the lower band is not significant. In the short term, the MA30 and MA5 moving averages are showing a resonating upward trend. From the current intraday perspective, the coin price is likely to continue oscillating upward. I personally believe that in the afternoon and evening, the price of Ethereum will likely rebound and recover along with Bitcoin.

Ethereum: Long positions around 4385-4355, Stop loss: 4287, Target: 4480-4530

Bitcoin: Long positions around 110000-109000, Stop loss: 108200, Target: 111500-112000

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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