Zhang Lihui, edited at 5:20 AM Beijing time on October 30: Today's Ethereum (ETH) market analysis and trading suggestions:
Ethereum experienced a downward spike to 3850 in the evening before rebounding. The current Bollinger Bands are trending downwards, and the candlestick is positioned in the lower range of the 4-hour chart. The market will face pressure from the middle band and the overlapping MA120 and MA60 lines in the short term. The volume below the 0 axis in the MACD shows no significant contraction, and the fast and slow lines continue to diverge without slowing down. The KDJ three lines are crossing upwards, indicating a potential for a false bullish signal, while the RSI three lines are weakly trending upwards, suggesting that the bearish momentum still exists after the short-term rebound!
Yesterday, Lihui mentioned that 4253 is likely the high point of this rebound. The KDJ and RSI in the overbought turning point are the best proof of this. I hope fans did not chase high positions and get trapped! It can be seen that the daily candlestick has broken below the middle band and the EMA120 range. Although the current market has rebounded, the contraction in the MACD volume is quite strong, and the fast and slow lines are continuing to converge. The KDJ and RSI have just crossed in the neutral zone, indicating that there is still half of the space below that has not been completed. The subsequent major bearish trend will depend on whether a death cross can form, which is quite critical. If there is a second retracement today that breaks the previous low, then we can first look at the lower band at 3750;
Today's Ethereum short selling suggestion: Lightly short above 3970, with a stop loss above 4070; target 3910-3850; if it breaks 3840-3830, you can continue to hold until around 3750! Specific entry opportunities for short positions can be followed through Lihui's real-time updates!
Today's Ethereum long buying suggestion: Lightly long below 3750, with a stop loss below 3650; target 3810-3880-3950!
There may be delays in article review and push notifications, and the market changes rapidly. Specific entry opportunities must be combined with real-time operations, and notifications should be prioritized. 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 levels, 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. For those who are not familiar with trading, feel free to leave comments! This article is exclusively published by (public account: Zhang Lihui) for reference only, and 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 glorious 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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