Zhang Lihui, edited at 12:06 PM Beijing time on October 17: Ethereum market analysis and trading suggestions:
The 1-hour Bollinger Bands for Ethereum show a narrowing parallel downward channel, with the candlestick returning above the middle track at the EMA15 position. Currently, it faces resistance at the upper track and EMA30. The MACD is showing an increase above the 0 axis, with a brief golden cross formed between the fast and slow lines. The KDJ and RSI are moving upwards, approaching the oversold area, indicating that the rebound space may be limited, but it is not yet complete!
The 4-hour Bollinger Bands show the lower track narrowing upwards, while the middle and upper tracks maintain a downward posture. The candlestick faces resistance at the EMA30 range. The MACD shows a slight decrease in volume below the 0 axis, with the fast and slow lines in the second stage of narrowing. Caution is advised for those chasing long positions, as KDJ and RSI are both showing a sticky upward pattern. Short-term attention should be paid to the rebound and volume strength!
As mentioned yesterday, Lihui noted that the daily EMA120 (3865) was precisely reached. If this support fails during the second test this week, it will likely reach the lower track extension at EMA180 (3615). If it holds over the weekend, it will show a slight oscillation around the 4H lower track. Lihui still suggests focusing on short positions during rebounds!
Today's Ethereum short position suggestion: Light short above 3950; reserve for a supplement above 4025, stop loss at 4075; target 3890-3820; if it breaks below 3800, you can continue to hold near 3615;
Today's Ethereum long position suggestion: Light long below 3615, stop loss below 3550; target over 100 points; specific entry opportunities for long positions can be followed with real-time updates from Lihui!
There may be delays in article review and push notifications; market conditions change 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 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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