Coin Sea Wave: 5.8 Cryptocurrency Market Ethereum (ETH) Latest Market Analysis and Insights

Coin Sea Wave: 5.8 Ethereum (ETH) Market Analysis Reference:
Ethereum's intraday price continues to fluctuate weakly. From the daily chart perspective, ETH is currently trading around 2290, having broken below the middle band of the Bollinger Bands and the EMA20 moving average. The short-term EMA7 and EMA15 moving averages have crossed below the EMA20, forming a bearish alignment. The medium-term upward trend line has been broken.
In the MACD indicator, the DIF remains below the DEA, and the histogram bars are consistently negative, indicating that bearish momentum has not yet diminished;
The RSI and KDJ indicators are weakening simultaneously, with overall momentum leaning bearish. If there is no effective volume breakout above the 2300 level in the short term, it is likely to remain in a range-bound weak consolidation.
The first key support below is near the lower Bollinger Band. If broken, it is likely to continue testing lower levels.
From the short-term hourly chart perspective, the 4-hour Bollinger Bands are opening downward, with the price moving along the lower band. Short-term rebounds are clearly suppressed by EMA7.
In the MACD indicator, DIF is far below DEA, and bearish momentum is still being released;
The RSI lines are all below 50, indicating weakness, and although the KDJ indicator is in oversold territory with a hidden golden cross, suggesting a short-term oversold rebound demand, the resistance at the middle Bollinger Band and EMA averages is dense.
The rebound is likely to be a weak correction, unable to reverse the current bearish trend. If the rebound is weak and the price falls below 2260 support, further downside space will open.
Operationally, it is recommended not to blindly chase longs; wait for a pullback to low levels and stabilize before following the trend.
Coin Sea Wave: 5.8 Ethereum Evening Short-term Reference:
Short position: 2375-2335 range short, stop loss 30 points, target 2315-2265,
Long position: 2235-2265 range long, stop loss 30 points, target 2300-2340,
The article may be delayed in delivery; it is time-sensitive. These are personal opinions only for reference. Do not operate blindly!
Hope everyone can stick to their principles on the investment journey, regardless of how the market changes, and maintain rationality and composure. #比特币跌破8万美元 #稳定币储备下降 $ETH