Ethereum ETH Market Analysis and Trading Suggestions on July 6 (Written at 7:21)

The current price of Ethereum is around 2520. Recently, the price has been trending downwards, approaching the mid-line position in the daily chart, showing an overall consolidation pattern. The price is operating above several moving averages, forming a support trend in the short term. The market is expected to show a slightly bullish oscillation again, but the bullish strength is insufficient, and the market has not surged significantly. Overall momentum is relatively weak, and the price may continue to fluctuate within the range of the mid-line and upper line in the short term. From a technical perspective, the narrowing of the BOLL channel, the MACD golden cross followed by a convergence, and the neutral positions of the short-term moving averages and RSI indicate a lack of strong momentum for a short-term breakout. The market may continue to maintain a range-bound oscillation in the short term. It is suggested to keep an eye on the BOLL upper line at 2630 as short-term resistance and the mid-line at 2457 as support. If the price is pressured again above 2630, one can short, or if it breaks below 2457, one can also short accordingly; if it remains oscillating, one can participate between the upper line and mid-line, and entering long positions at the BOLL mid-line support is also possible. In the candlestick pattern, a bullish engulfing appeared on the 2nd of this month, a top formation on the 3rd, and a bottom formation on the 4th. The current doji indicates a balance between bulls and bears. The three lines of RSI are in the middle area, showing no overbought/oversold conditions, with a slight rebound in the short cycle and a horizontal trend in the medium to long cycle, indicating a neutral sentiment. In MACD, the DIF line crosses above the DEA to form a golden cross, and the green histogram is shortening, needing attention for a potential turn to red. The short-term is slightly bullish but with limited momentum, possibly leading to sideways adjustments. In KDJ, the K, D, and J lines are intertwined in the middle area, showing no extreme overbought/oversold signals, indicating a balance between bulls and bears, with the trend still unclear. In the MA indicators, the short-term moving averages MA7 and MA30 are converging, while the long-term moving averages MA150 and MA200 are slowing down in their downward trend, showing an overall oscillation and bottoming pattern. In summary, it is suggested to maintain a strategy of buying low and selling high until the range is broken, and remember to defend your positions!

Buy Point: ≤2455 long, stop loss below 2410, take profit at 2520-2600, if it breaks above 2630-2640, you can continue to hold;

Sell Point: ≥2600 short, stop loss above 2640; take profit at 2530-2470; if it breaks below the key support at 2460-2450, you can hold;

There may be delays in article review and push notifications, the above points are for reference only, please grasp the timing of buying and selling yourself, and ensure proper risk control when entering the market, do not operate with heavy positions! Thank you for reading!

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Remember, the cryptocurrency world is not just about numbers and charts; it is an art about humanity, decision-making, and the future. In investing, maintain rationality and calmness, do not be swayed by short-term fluctuations, and view the market with a long-term perspective. Keep learning and improving your professional skills. Knowledge in the financial field is constantly updating; only through continuous learning can you keep pace with the times and seize every opportunity. Be brave to try and innovate. Do not fear failure, as every failure is an opportunity for growth. In the world of cryptocurrency, the brave often carve out their own territory. Finally, I wish you all shine on the stage of cryptocurrency, realizing your value and dreams. No matter when and where, Hongjie cheers for you and looks forward to your wonderful performance. Hongjie wishes everyone smooth sailing on the cryptocurrency journey and a bountiful return!

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