Waves in the Currency Sea: 6.10 Ethereum (ETH) Market Analysis Reference:

Ethereum is relatively aligned with Bitcoin, and the current price on the Ethereum daily chart is running just above the lower Bollinger Band, with the Bollinger Bands opening downwards. All mid- to long-term moving averages are exerting strong resistance above the candlestick. The MACD remains below the zero line for an extended period, with bearish conditions not dissipating and no signs of a turning point or contraction; KDJ has entered the oversold area around 20, and the RSI is close to the 30 oversold line, only possessing slight technical repair momentum, and not signaling a bottom reversal. The key resistance for a short-term rebound is concentrated around the 1685 level. If the rebound faces resistance and falls back, the previous low will be an important defensive line, and if this line is breached, the downward space will continue to expand.

The short-term 4-hour trend is experiencing oscillations in a low zone after a significant drop, with the overall oscillation center skewed low, and the price unable to stabilize above the middle Bollinger Band. The MACD and volume bars are continually contracting, with bullish rebound momentum gradually depleting, and the DIF and DEA are soon to converge for a death cross; KDJ has already turned downwards, indicating weakened bullish sentiment, while the RSI has retreated after a high and is hovering at a low-neutral position. The boundaries of the short-term range are clear, with support at the lower Bollinger Band at 1601 and pressure at the middle band at 1655; breaking the support would restart the downward trend, while breaking the middle band could open up a space for a phase rebound.

Waves in the Currency Sea: 6.10 Ethereum Short-term Reference:

Short positions: Short in the 1690-1650 range, stop-loss at 30 points, target at 1650-1600,

Long positions: Long in the 1570-1610 range, stop-loss at 30 points, target at 1630-1680,

【The above analysis and strategies are for reference only. Please bear the risks yourself. The article may have delays in review and publication, and the strategies may lack timeliness; do not operate blindly】

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