Zhang Lihui, edited at 1:37 AM Beijing time on June 8: Ethereum market analysis and trading suggestions:
The weekend market remains sluggish, and after waiting a day, it has once again rebounded above 2520 as desired. From the 1-hour chart, we can see that its value has already taken effect. The current candlestick is blocked by the EMA80 and EMA120 range, forming a right-side high point of an M-top. This high point also serves as a parallel resistance level to the oscillation highs on the 1st and 2nd. If it breaks above the EMA120, the defense should be placed at the top MA120, MA180, MA220, and MA300 pressure levels, which also correspond to the oscillation lows on the 3rd to 5th. Therefore, we should still look at the support level at yesterday's low. The current fast and slow lines are converging, with a decrease in volume above the 0 axis, and we need to pay attention to whether a death cross can form.
The 4-hour candlestick has just reached the upper band and is facing pressure again, and it is expected to form a double top pattern. However, the MACD is starting to expand above the 0 axis, but it is not very strong. We need to pay attention to the subsequent stretch after the current golden cross, and the defense can also be seen at the top pressure of MA30, MA60, and MA120. Combining with the short-term 1-hour view, the resistance above is still significant, including the J-line also turning down in the oversold area, and the RSI three lines are similar. Therefore, we can focus on whether the fast and slow lines can reverse the second divergence before considering how long to hold the short position! Below, we can first pay attention to the two positions of 2450 and MA220.
Today's Ethereum short position suggestion: It is recommended to continue shorting lightly in the 2520-2560 range; stop loss at 2590; target 2450-2415; if it breaks below 2400-2380, you can continue to hold near the daily EMA60, which is around the 2310 position.
For long positions, it is advisable to pay attention to the second support at yesterday's low and the 2400 level before entering, with a target of over 50 points to take profit freely, but do not be too greedy! Specific entry opportunities can be followed through Lihui's real-time updates!
There may be delays in article review and push notifications; the market changes rapidly, and specific entry opportunities must be combined with real-time operations. The suggested points in the article are for reference only; do not operate with heavy positions. Please set stop-loss and take-profit levels when entering, and take profits when favorable!
I, Lihui, interpret world economic news and analyze global cryptocurrency trends. During my studies in the U.S., I conducted in-depth research on BTC, ETH, LTC, DOT, EOS, BNB, SOL, and other cryptocurrencies. I welcome comments and messages from those who are not familiar with trading!
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