Zhang Lihui edited on July 30 at 2:56 AM Beijing time: Ethereum Market Analysis and Trading Suggestions:
In the 4-hour chart of Ethereum, the candlestick has declined to around 3715 in the evening, encountering a weak rebound. Currently, it is close to the EMA30 and the middle band, facing pressure again. The fast and slow lines are still diverging, and the fast line is further approaching the 0-axis level, indicating that the bearish trend is not over yet. From the KDJ and RSI patterns, there is a possibility of a rebound, but it is relatively weak. It is advised not to chase weak long positions and to wait for high short opportunities! The current level continues to focus on the middle band and the resistance around yesterday's high of 3880! On the downside, we will continue to see if the lower band can extend to the EMA60 position;
On the daily chart, the Bollinger Bands continue to contract. Lihui mentioned yesterday that the upper band is under pressure, and the top is limited, which will not provide much space. It can be clearly seen that the upper band has already been lowered in relation to yesterday's high, so the short-term rebound space will be compressed again. Those who want to go long must be cautious! The middle band support that has been defended for many days has already been pierced, and currently, we are looking at the EMA10 and EMA15 range. If the defense fails, it will reach the lower band position, which is around 3630; combined with the KDJ and RSI three-line high position crossing downwards, this round of bearish trend may be relatively persistent. After all, pulling up so much, a pullback is also normal. Additionally, Ethereum's current strong performance may lay the groundwork for a sell-off, as the daily death cross for Bitcoin has already formed, while Ethereum is still in a contracting phase and has not yet formed a definitive death cross, so this needs to be closely monitored!
Today's Ethereum short position suggestion: Light short above 3810, stop loss at 3890; target 3725-3680; if it breaks 3675, you can continue to hold until around 3630!
Today's Ethereum long position suggestion: Light long below 3630; stop loss below 3580; target 3710-3780; specific entry opportunities for long positions can be monitored through Lihui's real-time updates! Continue to pay attention to the daily middle band position for support before entering!
There may be delays in article review and push notifications, and the market changes rapidly. Specific entry opportunities must be combined with real-time operations, and notifications should be considered as the standard. The suggested points in the article are for reference only; do not operate with heavy positions. Please ensure to 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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