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Yesterday, Ethereum once again laid out a short position and perfectly reached the first target of 3105 for profit-taking. The intraday decline was not as large as expected, but it still captured the maximum benefit of the range oscillation! Today's market situation actually doesn't require much analysis, it's still a short position!
Analysis and operational suggestions for Ethereum on 4.27:
Looking at the 1-hour chart, the EMA80 line has crossed below the EMA120, and the moving average indicators are arranged from far to near, from top to bottom, indicating a bearish trend. The coin price has been staying between the EMA15 and EMA60, indicating that the short-term upside space is still very limited. Looking at the KDJ, there is a clear lack of upward momentum, and although the MACD is balanced above the zero axis, the distance between DIF and DEA remains close, indicating a decrease in market buying enthusiasm.
On the 4-hour candlestick chart, the current coin price position continues to have multiple moving averages converging. As mentioned earlier, the appearance of a dense state in the moving average indicators indicates a strong bearish trend, especially since it traded sideways all day yesterday. The KDJ values show the J value at 58.49, while the K and D values are 50.16 and 46.00 respectively, none of which have entered the overbought or oversold zones, suggesting the possibility of short-term downward pressure. In terms of the MACD indicator, both the DIF and DEA are below the zero axis, and the DIF is below the DEA on the latest candlestick, with the MACD histogram also showing a negative value, which is usually seen as a signal that the market may continue to be bearish.
Looking at the daily chart, the coin price is under pressure from the EMA7, EMA10, EMA15, and EMA80. The J value in the KDJ is moving out of the overbought zone and forming a downward cross, while the MACD energy above is continuing to weaken. The DIF and DEA are in a negative state and the distance between them is clearly not widening, with the short-term target continuing to be supported at the EMA120.
Taking into account the above indicators, it is suggested to continue maintaining short positions without breaking the high levels intraday, and to enter long positions when the bottom retracement support is not broken!
It is recommended to pay attention to the range of 3190-3160 without breaking for short positions, with profit-taking at 3110-3080-3065 and stop-loss at 3215; if the lower level breaks at 3060, the short position can continue to be held until near the 3000 level; if the range of 3000-3030 is not broken, it can be considered to enter long positions!
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I, Li Hui, interpret world economic news, analyze the global trend of the coin 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 operations, you are welcome to leave comments!
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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 have a time delay, 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 and chaotic coin circle, fear no challenges, and dare to explore. Just as the road ahead is long, "the road ahead is long and far-reaching, I will seek and explore from top to bottom." May we read thousands of books, keep pace with the times, and draw from the fountain of wisdom. Travel thousands of miles, experience storms, witness the scenery, and comprehend life. With Li Hui's guidance, may you heed advice, play to your strengths, and create value together. May we always remember the baptism of the market, not forget our original intentions, and thus achieve consistency. In the wave of digital currency, holding firm to our beliefs, forging ahead with determination alongside Li Hui. May we jointly compose the future's brilliant chapter and share the joy of success. Let us gather in the turbulent world of digital currency, make the most of our time, and create brilliance together. Li Hui is willing to embark on this challenging and opportunistic investment journey with you.
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