The ancients said: "Reading ten thousand books is not as good as traveling ten thousand miles; traveling ten thousand miles is not as good as having a famous teacher to guide you." In the field of digital currency, this famous saying is even more precious. It is well known that accumulating information and broadening one's knowledge is the first step to acquiring wisdom. However, the digital currency market is constantly changing and full of variables. It is difficult to deal with the challenges of practice based solely on theory. Only when one is in the situation can they truly understand the difficulties of moving forward. Whether it is shocking or inspiring, there are numerous dangers, like walking on thin ice. However, with the careful guidance of Li Hui, one can avoid going astray, manage risks, and walk alone in this vast world. Li Hui is willing to explore the mysteries of digital currency with everyone, to open up the path of investment, and not to disappoint the golden age. I hope you will pick up the banner of struggle and embark on this challenging and opportunistic journey with Li Hui. Let us move forward together and create your own brilliance!
Looking at the short-term chart of Ethereum, the price surged to 3459 and then fell back several times, indicating significant selling pressure each time the price attempted to rise. The latest hourly candlestick is a small bearish candle, and the closing price is close to the lowest price, indicating insufficient buying power in the short term. The MACD indicator shows that both the DIF and DEA are in positive territory, but the MACD histogram has turned from positive to negative, suggesting a weakening momentum and a possible further decline.
The KDJ indicator's J value sharply fell below 100 to below 70 and is about to form a crossover, and both the K value and D value have started to decline, which is usually a signal of adjustment after overbuying.
There are signs of a downward adjustment in the EMA7 compared to EMA15. If EMA7 crosses below EMA15, it may confirm a short-term trend reversal.
On the hourly chart, the trading volume fluctuates significantly, but the volume increases when the price falls, which may indicate more active participation in the downtrend.
Looking at the 4-hour chart, after the price surged to the EMA120 line, it quickly fell back. The EMA120 forms strong resistance above all moving averages, indicating a retracement range in the short term. Currently, if EMA7 crosses above EMA60, it will form the first support level, and the second support level is at the EMA15 and EMA30 levels.
On the daily chart, the trading volume on April 8th decreased significantly compared to the previous day, indicating a reduced interest in the current price level.
Based on the above indicators, it is suggested to consider entering the market with a short position first and then a long position. If the price does not break below the 3370-3385 range, consider establishing a long position. Pay attention to breaking above 3465 as an entry point to reach around 3500, and consider entering a short position based on actual trading. Please note that there may be delays in article review, and the market is constantly changing. When entering the market, please set up stop-loss and take-profit levels.
I, Li Hui, interpret world economic news, analyze the global trend of the currency circle, and have conducted in-depth research on BTC, ETH, LTC, DOT, EOS, BNB, SOL, and other currencies while studying in the United States. For those who are not familiar with trading, you are welcome to comment and leave a message!
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This article is exclusively published by (WeChat public account: Zhang Li Hui) and does not represent any official position. The publication and review of the article may be delayed, and the above points are for reference only. Please bear the risks on your own! May we always carry humility and courage in this complex world of digital currency, fear no challenges, and dare to explore. Just as traveling ten thousand miles, "the road ahead is long and distant, I will seek and explore." May we read ten thousand books, keep pace with the times, and draw wisdom from it. Traveling ten thousand miles, experiencing storms, witnessing scenery, and understanding life. With Li Hui's guidance, may you seize opportunities and avoid pitfalls, and create value together. May we always remember the baptism of the market, not forget our original intentions, and move forward. In the wave of digital currency, firmly holding onto faith with Li Hui, forging ahead with determination. May we jointly compose a brilliant future and share the joy of success. Let us gather in the turbulent world of digital currency, live up to the prime of life, and create brilliance together. Li Hui is willing to embark on this challenging and opportunistic investment journey with you.
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