Zhang Lihui, edited at 1:35 AM Beijing time on July 12: Ethereum market analysis and trading suggestions:
Continuing to look at the performance in the 1-hour chart of Ethereum, after approaching 3041 yesterday, the market showed selling pressure. The candlestick has currently adjusted downwards, piercing the lower band and approaching the EMA30 position. It can be seen that a dead cross has formed between the fast and slow lines at a high position, and the volume continues to increase below the 0 axis. This wave of overbought conditions has led to a technical correction, which is possible. Lihui suggests paying attention to the support in the range of EMA60 and EMA80 after the EMA30 breaks down, which corresponds to the range of 2850 to 2800;
In the daily K chart, KDJ and RSI also show a downturn from the overbought area, so attention can be paid to the MA500 and MA450 range, which aligns with the support of the 1-hour EMA60 and EMA80 range; this can be seen as an opportunity to enter low long positions. From the performance of the Bollinger Bands' lower band convergence, it appears very weak, indicating that there may be space below! In terms of layout, Lihui suggests that those who have entered high short positions during the day can consider entering low long positions if the support area below does not break, while remembering to set stop losses! The risk of chasing long positions at this high level is significant, so caution is advised!
Today's Ethereum suggested long entry point one: Long in the range of 2850-2800; stop loss at 2750; target at 2940-3030; if it breaks above 3050, continue to hold above 3100;
Today's Ethereum suggested short entry point one: Short above 3120 (this position is near the high point of February 2), stop loss at 3170; target at 3050-2950-2850; if it breaks down, look for 2800 and continue to hold;
Specific entry opportunities for high shorts need to be adjusted based on real-time market changes, and you can pay attention to Lihui's real-time updates!
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, and real-time notifications should be considered as the standard. The suggested points in the article are for reference only; do not operate with heavy positions, and please set take profit and stop loss when entering. Take profits when the situation is 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 cryptocurrencies such as BTC, ETH, LTC, DOT, EOS, BNB, and SOL. I welcome comments and messages from those who are not familiar with trading!
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