Today, Ethereum also welcomed the monthly update. From the perspective of monthly technical indicators, both the KDJ and MACD indicators are in a dead cross structure. At the same time, the BOLL indicator shows that the price has fallen below the middle band, and currently, the price is oscillating downwards close to the middle band. Additionally, from the monthly technical indicators, Ethereum's price has dropped below the MA30-day moving average this month, although there is a certain technical gap in the monthly price of Ethereum.

From the daily technical indicators, the KDJ indicator shows a significant downward trend, while the BOLL indicator continues to weaken, with a slight opening at the lower band. This indicates that the bearish sentiment is very strong. Meanwhile, all MA three-day moving averages are showing a significant downward pressure, with the MA30-day moving average accelerating its decline. Therefore, from a daily perspective, we still recommend focusing on short positions, with the first support level adjusted to the area around 2563-2400.

Finally, I personally expect that the price of Ethereum will likely experience a downward oscillation in the evening and early morning, with the first support level still referring to the area around 2563-2400.

The above is my personal market analysis for the evening, for reference only. Specific points and directional changes should be based on real-time guidance.

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