From the daily technical indicators of Ethereum, both the KDJ and MACD indicators are in a bearish phase with increasing volume. Meanwhile, the BOLL indicator has shown a technical breakdown across the entire band, and the three-day moving averages are continuously arranged in a bearish pattern. Overall, the selling pressure above Ethereum remains very strong. However, today the price has created a certain technical gap with the MA5 moving average, and the downward pressure of the MA5 moving average has weakened compared to yesterday. I personally believe that the price of Ethereum will continue to fluctuate within the range of 3900-3820 during the day. If this area is effectively broken down, the subsequent price will head straight towards the range of 3500-3300.

From the four-hour technical indicators, the KDJ and MACD indicators are showing a death cross with increasing downward movement. The short-term BOLL indicator continues to open downwards, while the short-term three-day moving averages are arranged in a bearish pattern. The downward momentum of the MA5 and MA10 moving averages is very strong. Based on the current situation, it is highly likely that the price of Ethereum will continue to trend downwards with fluctuations during the day.

The above is my personal evening market analysis and operational thoughts. Specific points and directional changes are subject to real-time guidance.

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