Cryptocurrency Academy: How to operate in the 6.8 Ethereum market rebound? Daily and 4-hour charts help you find the right entry opportunity! Latest market analysis and trading advice

The current price of Ethereum is 1630, showing an increase of 3.90% for the day on the daily chart, but the overall trend is still in a downward channel. The price has fallen below all short-term moving averages such as EMA15 and EMA30, with the moving averages clearly arranged downward. The area between 1776 and 1800 is a strong resistance zone. In the MACD indicator, the DIF remains below the DEA; although the green bars have shortened, the overall downward momentum has not completely faded. The Bollinger Bands are opening downwards, with the price running along the lower band, where the lower band support around 1593 is crucial in the short term. Once it breaks, it is highly likely to revisit the strong support level at 1383.

The four-hour candlestick chart shows a rebound starting from the low of 1503, with the current price running around 1629. The short-term EMA15 moving average is close to the price, forming initial support. The MACD indicator has produced a golden cross signal, with red bars continuing to expand, indicating that short-term upward momentum is being repaired. The mid-band of the Bollinger Bands around 1630 is the dividing line between bulls and bears in the short term, and the price is currently hovering at this mid-band level. Strong resistance levels are present around the Fibonacci resistance at 1730 (0.236) and 1870 (0.382) on the rebound path. If it cannot break through, there is a high probability it will test the low around 1500 again.

Short-term reference:

Short position from 1620 to 1660, stop loss at 1690, target looking at 1570 to 1500

Long position from 1510 to 1470, stop loss at 1430, target looking at 1570 to 1620

A sincere suggestion, do not treat Ethereum like gambling anymore. Many people enter with the thought of becoming rich overnight, piling into high leverage, and as a result, a pullback wipes them out. Look at this market, from 1500 to 1600, it seems strong, but it is actually a repair in a downturn; it could turn down at any moment. In the end, trading is not about who makes money quickly, but who lasts longer. Do not go against the trend, do not be swayed by emotions; making small profits within your own understanding is more secure than anything else.

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