Zhang Lihui, edited at 5:25 AM Beijing time on October 2: Today's Ethereum (ETH) market analysis and trading suggestions:
The 1-hour Bollinger Bands for Ethereum are trending upwards with all three lines continuing to rise. The evening market formed a high-level consolidation after a surge, with a contraction in volume above the zero axis, but the price has not yet come down, indicating that there is still room above. The fast and slow lines are converging, and the upward momentum of KDJ and RSI has weakened. Pay attention to the formation of a death cross and divergence, and watch the support area at the lower band and EMA30!
On the 4-hour level, the Bollinger Bands are opening up, and the lower band is not closing upwards as expected, indicating that there is also support below. Lihui mentioned yesterday that if the candlestick breaks through the EMA120, EMA180, and EMA220 lines, the market will see further increases, possibly reaching 4421! From the current 4-hour perspective, the golden cross is still expanding, and the upper band is approaching 4400, indicating a high probability of going up. However, caution is needed as both KDJ and RSI are nearing oversold territory and may pull back to test the middle band!
However, looking at the daily Bollinger Bands, the short-term market is facing resistance at the upper band, which has been pushed down from 4421 yesterday to the current 4360, and there is no sign of a slowdown in the downward pressure. The volume below the zero axis has been shrinking, and the fast and slow lines are about to successfully converge, potentially forming a golden cross, similar to what Bitcoin formed yesterday. Therefore, the upper space should not be limited to the current upper band position; the high point from September 22 can be referenced as the second resistance! If KDJ and RSI enter extreme overbought territory, there is a possibility of another explosive upward movement. Thus, Lihui suggests being cautious with short positions and primarily looking for low buy opportunities on pullbacks!
Today's Ethereum short position suggestion: Light short above 4430, stop loss above 4480; target 4350-4255; specific entry opportunities for short positions can be followed through Lihui's real-time updates!
Today's Ethereum long position suggestion: Light long below 4255, stop loss below 4200; target 4330-4420, if breaking above 4430-4450, you can continue to hold;
There may be delays in article review and push notifications, and the market is ever-changing. Specific entry opportunities must be combined with real-time operations, and the article's suggested points are for reference only. Please do not operate with heavy positions; enter with proper take profit and stop loss, and take profits when available!
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. For those who are unsure about trading, feel free to leave comments! This article is exclusively published by (public account: Zhang Lihui) for reference only, and the risks are to be borne by the reader. May we remain humble and brave in the complex cryptocurrency world, unafraid of challenges and willing to explore. As the saying goes, "The road ahead is long and has no ending; yet high and low I'll search with my will unbending." I hope we keep pace with the times, absorb wisdom, travel thousands of miles, weather storms, and gain insights into life.
May you, under Lihui's guidance, leverage your strengths and avoid weaknesses, create value, and remember the market's trials while staying true to your original intentions. In the wave of digital currency, may we hold onto our beliefs, forge ahead, and together compose a brilliant future, sharing the joy of success. Let us join hands and move forward in this investment journey filled with challenges and opportunities, creating brilliance together!
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