Zhang Lihui, edited at 6:34 AM Beijing time on July 8: Ethereum market analysis and trading suggestions:
It can be seen that the 4-hour K-line of Ethereum has once again rebounded with a lower shadow supported by the EMA60, 80, 120, and 180 lines early this morning. These four lines are also higher than the rebound position of the low point from the early morning of the 5th, and they are gradually rising, indicating that the bottom support is slowly increasing. Lihui mentioned yesterday that this position could be used for additional purchases, and today it serves as a low entry point for long positions. Although the current short-term rebound strength is not very strong, the speed of the lower band convergence is rapid, already above the EMA60, indicating that there won't be much space below; in the MACD, a weak volume appears again below the 0 axis, similar to the previous chaotic performance, indicating a high probability of a death cross pulling back, with bulls pushing again to the upper band position.
In the daily chart, there is again significant effective support formed by the middle band, which is gradually rising effectively. The Bollinger Bands channel continues to rise and remains unchanged, with the upper band having broken above the EMA300. Today, it may break the previous high of 2635. The bottom support considers the strong support where the lower band coincides with the EMA80 and 120; this position can be used as a light long entry point. Although there is a short-term pullback, the bullish momentum is still present, with balanced volume consistently appearing above the 0 axis, and the fast and slow lines showing no signs of convergence. Coupled with the continuous inflow of Ethereum ETFs, Lihui believes that there is still explosive potential for bulls, and the strategy remains to consider low long entries around the middle band support.
Today's suggested long entry point for Ethereum: light long below 2535; stop loss at 2465; target 2590-2620; if it breaks above 2630-2640, it can be held until above 2700.
Today's suggested long entry point two for Ethereum: long below 2415, stop loss at 2350; target 2490-2590.
Currently, short positions are not considered; specific entry opportunities need to be adjusted based on real-time market changes. Please pay attention to 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 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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