Ethereum plays the role of "aunt", the role is in place, keep up with the pace

During the recent period, Ether has strictly played the role of "auntie", following the trend of the big pie, rising and falling!

Let's take a look at the daily chart of Ethereum first. The decline after Ethereum hit a high of 488.77 directly fell below the support levels of each moving average system

However, it was pulled back strongly by the blue MA60 moving average, and in the next two weeks, it ran slowly upward along the MA60 moving average

After touching the suppression of the green MA30 moving average, Ethereum began to dive again

It touched the lowest line of 313 this morning, and has fallen below the support of the lower track of the daily BOLL, prompting the BOLL channel to open downward. Although there was a short correction during the day, it has been running along the lower track of BOLL

Comprehensive analysis, Yitian (aphz8705) believes that there is a lot of pressure on the top of Ethereum. Even if there are dealers entering the market, it will be a short-term pull-up and cannot change the general trend. In the near future, we need to focus on the support effect of the 300 integer mark below

Let's continue to analyze from the 4-hour chart

The BOLL channel has opened downwards, and the price of Ethereum is running downward along the lower track of BOLL, and the moving average system also hooks downwards, forming an upward pressure on the price of Ethereum

Every time after falling below the BOLL channel, although there is a rebound, it will continue to decline after touching the resistance level formed by the intersection of the MA5 and MA10 moving averages

Although the MACD fast-slow line of the subordinate indicator below has entered the oversold zone, the short energy has been released for the second time, and there is a tendency to continue to turn into a long position. However, if the upper pressure level of 337 currency prices cannot break through and stand firm, then the short trend will continue!