11.8 Zhang Lihui: Ethereum Market Analysis and Trading Suggestions:
Yesterday, Lihui mentioned in a post that Ethereum would make up for the lag, and the market moved as expected, directly breaking the 2770 level without any surprises. The second-largest cryptocurrency has been held back for so long that it’s time to perform well; currently, the overall trend is bullish and rapid, and no one can accurately predict the target, so don’t blindly guess the top or chase after price increases and decreases. Bitcoin and Ethereum are forming an alternating upward trend, and everyone should know that Sun has over 200 million in spot holdings above 3000, and this big player has been closely watched by the main forces. This level can be seen as a short-term retracement pressure point from last night.
From a daily technical perspective, the K-line has risen to the MA180 position, and the Bollinger Bands continue to open, with the lower band not closing upwards, indicating that there is still space below. This should not be doubted. Currently, there is a cross resistance point at MA200 and MA300 above the K-line. Once this level is broken, we will see the high point around 3200 from August 2nd. Yes, it’s just a matter of a few days! The current support below is considered at the MA380 and MA120 positions; however, Lihui believes that when the market approaches 3000-3030, there should be a significant retracement, followed by a bottom test and then a sustained rally, maintaining this until the end of January. If it can directly retrace first, then a low buy layout would definitely be the safest; of course, all of this is just Lihui's personal understanding. Although the bulls are strong right now, it is not advisable to blindly chase high positions. A stable approach with low buy layouts during retracements is the most appropriate. Of course, one can also consider shorting at the cross resistance point of MA200 and MA300, with a stop-loss set closely; this should not be overlooked! I hope everyone understands the principle of small losses for larger space!
At 10:36 AM Beijing time on November 8, the editor suggests lightly buying in the 2800-2830 range, with a stop-loss at 2750; targets are set at 2880-2940-2990. If it breaks above 3000-3030, you can continue to hold.
For light shorting, consider the 2970-3020 range; stop-loss at 3050; targets are 2940-2830. If it breaks below 2820-2800, you can continue to hold. The above entry opportunities should be combined with real-time market changes before entering, and specific operations should be based on Lihui's real-time notifications!
There may be delays in article review and push notifications, and the market changes rapidly. Specific entry opportunities must be combined with actual trading operations, based on real-time notifications. The suggested points in the article are for reference only; do not operate with heavy positions. Please set take-profit and stop-loss levels 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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This article is exclusively published by (WeChat public account: Zhang Lihui) for reference only, and the risk is borne by the reader. May we remain humble and brave in the complex cryptocurrency world, unafraid of challenges and willing to explore. Just as "the road is long and has no ending; yet high and low I'll search with my will unbending," I hope we keep pace with the times, absorb wisdom, travel thousands of miles, weather storms, and gain insights into life.
May you, under Lihui's guidance, leverage strengths and avoid weaknesses, create value, and remember the market's baptism, staying true to your original intentions. In the wave of digital currency, may we hold onto our beliefs, forge ahead, and together compose a brilliant future, sharing the joy of success. Let us work hand in hand to create brilliance on this investment journey filled with challenges and opportunities!
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