Zhang Lihui, edited at 1:01 AM Beijing time on June 18: Ethereum market analysis and trading suggestions:
Continuing to look at Ethereum, the current 4-hour K-line has broken below the low point range defended for several days, and is currently continuing to test the EMA220 position downwards. It can be seen that the lower track is once again showing an opening shape, and the lower track has already crossed below the EMA220, indicating that the downward space has not yet been exhausted. As per the old rule, do not chase the market if it does not turn back. Continue to pay attention to the upper EMA180 first resistance level. If it breaks, look towards the mid-track and EMA120 range resistance for potential entry opportunities. On the downside, we can first look at the low point near June 13. If the downward momentum during the day is strong enough, it can continue down to the EMA300 range, which is below 2400. For short-term longs, attention can also be paid to the support strength at the June 13 low and EMA300. A conservative suggestion is to enter at the MA60, and of course, shorting on a rebound is undoubtedly the safest!
On the daily level, the upper side is under pressure and near the mid-track. It is currently continuing to move down towards the EMA180 position, which follows the same reasoning. If this range breaks, we can see the lower track and the support positions where EMA60, EMA80, and EMA120 intersect. The large-scale bearish momentum cannot come unless this position is reached. The fast and slow lines failed to converge yesterday, forming a divergence that continues to spread downwards. During the day, we can continue to pay attention to the volume strength below the 0 axis and whether there are short-term rebound opportunities!
In summary, Lihui believes that the bearish momentum is not yet over, and suggests focusing on shorting during rebounds! Short-term longs are secondary!
Today's suggested shorting points for Ethereum: Lightly short in the range above 2525, reserving for additional positions above 2580; stop loss at 2610; target 2450-2400; if it breaks, look at 2390-2370 and continue to hold;
Today's suggested long points for Ethereum: Long in the range of 2300-2330; target 50-100 can be taken freely; specific operations need to be adjusted according to real-time market changes, and you can pay attention to Lihui's real-time updates!
There may be delays in article review and push notifications, and the market changes rapidly. Specific entry opportunities must be combined with actual trading operations, with real-time notifications as the standard. The suggested points in the article are for reference only; do not operate with heavy positions. Please ensure to 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 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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