Currently, the short-term trend of Ethereum still leans towards consolidation. From the current evening's decline, it has not yet reached a bottom. At 8 PM, it closed with a bearish candle. The MA30 daily moving average in the daily technical indicators is still under pressure. After the technical indicators for Ethereum hit resistance, it has been experiencing a volume-reduced decline. Looking at today's updated daily chart, there will be a technical downward adjustment this week. Additionally, the gap in the MA5 daily moving average has not been fully filled, and currently, Ethereum has formed a green TD9, while Bitcoin is in a lagging state at green TD13. Therefore, from a technical perspective, the current price is still in a retracement adjustment.

From the 4-hour technical indicators, the KDJ indicator is once again in a high-level consolidation, operating above the 80 level. The MACD indicator is showing a continued weakening in the short term. Although the BOLL indicator is moving towards the upper band, the upward momentum has weakened. Currently, the short-term price of Ethereum has dropped below the MA5 daily moving average, showing a red TD1 bearish signal. Therefore, the suggested trading strategy for today is to focus on shorting during rebounds.

Ethereum: Short near the 2595-2630 area, stop loss at 2693, target at: 2530-2480

Bitcoin: Short near the 103500-104200 area, stop loss at 105800, target at: 102000-100000

The above is my personal market analysis from early this morning, for your reference only.

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