Zhang Lihui edited on June 11 at 0:48 Beijing time: Ethereum Market Analysis and Trading Suggestions:
Yesterday, Lihui mentioned that there might be a rebound due to the inflow of Ethereum ETFs; as expected, the market broke through the key pressure level on the 4-hour chart, piercing above the high point of the 29th and approaching the 2800 mark. Continuing to look at the current 1-hour K-line, it is retreating close to yesterday's low point during the day. The fast and slow lines are forming a death cross, spreading downwards, but the volume is not very strong, and the Bollinger Bands are still trending upwards; this indicates that the bullish support is still quite strong. This situation is common, and a pullback in an upward trend appears relatively weak! Therefore, the support can be considered slightly higher!
On the downside, one can continue to consider entering the range between yesterday's low and the 4-hour middle band, with the stop loss set at the MA120 position. It is important to note the intensity of volume contraction on the 4-hour level after the 1-hour death cross. Therefore, on the upside, one can continue to pay attention to the daily MA380 position. If the second attempt to rise does not break, the market will continue to maintain a high-level range of fluctuations, including Bitcoin, which can also maintain a strategy of high selling and low buying. If the daily fast and slow lines form a golden cross, it will break through MA380 and reach the MA450 and MA500 range; conversely, if there is divergence, this round of the market will enter a new correction phase.
In summary, after Ethereum breaks through the previous high and forms a pullback, it may be in a high-level fluctuation in the short term. Pay attention to whether the high point can be effectively broken. One can continue to maintain support for low buying as the main strategy and lightly short at high levels!
Today's Ethereum trading suggestion for long positions: Buy in the range of 2670-2630; stop loss below 2575; target 2720-2780; if it breaks 2790-2800, you can continue to hold until above 2860;
For short positions, pay attention to the daily MA380 and MA450 and MA500 as key resistance zones for entry. Specific entry opportunities need to be adjusted based on real-time market changes. You can follow Lihui for 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 actual trading operations. The suggested points in the article are for reference only; do not operate with heavy positions. Please set take profit and stop loss 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 cryptocurrencies such as BTC, ETH, LTC, DOT, EOS, BNB, and SOL. I welcome comments and messages from those who are not familiar with trading!
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May you, under Lihui's guidance, leverage strengths and avoid weaknesses, create value, and remember the market's baptism, staying true to your original intention. In the wave of digital currency, may we hold onto our beliefs, forge ahead, and jointly compose a brilliant future, sharing the joy of success. Let us work hand in hand to create brilliance in this investment journey full of challenges and opportunities!
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