Zhang Lihui, edited at 0:35 Beijing time on June 9: Ethereum market analysis and trading suggestions:
Yesterday, Ethereum maintained a prolonged narrow range oscillation during the day before dipping below the MA60 and then rebounding again. Currently, it is challenging the upper band of the 1-hour chart and the intersection of MA120, MA180, and MA220. This intersection is also the high point from early yesterday morning. If it breaks through, we need to look further at the range of MA300, MA380, MA450, and MA500. The MACD is gradually decreasing below the 0 axis, and a golden cross is forming. Note that the top pressure is being gradually broken through. It can be seen that Bitcoin has been very strong these days and has also risen above the daily midline. Although Ethereum is not as strong, it rebounds quickly after slight pullbacks, and the bottom is slowly rising, indicating that the main funds are flowing in to support the price. Therefore, short positions should be closed when profits are seen, and it is not advisable to be too greedy. For smaller time frames, consider mainly low long positions, with current MA60 and lower support as reference for entry.
On the 4-hour chart, the lower Bollinger Band is once again narrowing upwards, which aligns with the trend of a rising bottom. However, the upper band has not yet entered a strong phase, and we need to pay attention to the daily midline being broken and stabilized. Currently, the MACD is gradually increasing above the 0 axis, and the golden cross is continuing to expand. Short-term long positions are intended to rise steadily. The upper levels continue to focus on the four resistance lines mentioned by Lihui yesterday: MA30, MA60, MA120, and MA180; specifically, the crossover pressure point of daily MA180 and MA30 (2555). If broken, it may continue to challenge the overlapping positions of MA300 and the upper band (2640).
In summary, there may still be a demand for short-term rebounds. It is recommended to focus on low long positions at support during pullbacks, and to lightly short at high resistance!
Today's suggested long entry points for Ethereum: buy in the range of 2510-2485; stop loss at 2450; targets at 2545-2575-2620; if it breaks 2630-2650, you can continue to hold.
For short positions, pay attention to the key resistance on the 4-hour and daily charts for entry. Specific entry opportunities need to be adjusted based on real-time market changes, and you can follow Lihui's real-time updates!
There may be delays in article review and push notifications; the market changes rapidly, and specific entry opportunities must be combined with actual trading operations. The suggested points in the article are for reference only; do not operate with heavy positions. Please set stop-loss and take-profit levels when entering, and take profits when available!
I, Lihui, interpret world economic news and analyze global cryptocurrency trends. During my studies in the U.S., I conducted in-depth research on cryptocurrencies such as BTC, ETH, LTC, DOT, EOS, BNB, and SOL. For those who are not familiar with trading, feel free to leave comments!
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