Last night, the article clearly provided a short selling strategy for Ethereum around 2590. This morning, the price of the coin retraced to our target level near 2480, where the Ethereum short position gained over 110 points. I believe those who have been following should have benefited.

From the daily technical indicators for Ethereum, the KDJ indicator is still in a high-level oscillation phase. Currently, the coin price is still significantly below the five-day moving average, while in the MACD indicator, the DIF and DEA have crossed downwards. The coin price has fallen below the MA five-day moving average, and the trading volume (VOL) has also shown a significant reduction. The MA three-day moving average is in a bearish arrangement, indicating that this round of decline has not yet ended. Although Bitcoin next door is currently in a strengthening green TD3 pattern, the bullish momentum in the KDJ and MACD indicators is decreasing. Therefore, it is highly likely that the coin price will continue to oscillate downwards during the day.

From the four-hour technical indicators, the KDJ indicator is oscillating downwards, and the MACD indicator is in a high-level death cross, while the bullish volume is slightly decreasing. Currently, the short-term pressure on Ethereum at the upper high point is relatively strong. Therefore, the trading strategy for this afternoon and evening remains unchanged, suggesting to primarily short on rebounds.

Ethereum: Short near 2490-2530 with stop loss at 2593 and target at 2420.

Bitcoin: Short near 103500-104000 with stop loss at 105500 and target at 102000.

The above is my personal market analysis for the afternoon, for your reference only.

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