Zhang Lihui, edited at 1:09 AM Beijing time on July 31: Ethereum Market Analysis and Trading Suggestions:
Ethereum is descending as expected. In the 1-hour chart, it has formed a triple bottom rebound near the EMA180 level during the day. In the evening, it faces resistance at the upper band, leading to a pullback. The current Bollinger Bands are narrowing, indicating that the market is likely to continue its oscillation within the channel. The lower support can still be focused on the EMA180 and EMA220 range for light long positions. The MACD's fast and slow lines are entangled in a golden cross and dead cross moment, but the volume during the day shows a top divergence, and both KDJ and RSI are trending downwards, indicating that the bearish trend will continue!
In the 4-hour chart, the Bollinger Bands remain parallel, and it is difficult to break through the short-term oscillation high, creating resistance. The lower support can be focused on the lower band and EMA60 range. If the 3700 level is broken, it may drop to the EMA80 level. On the upper side, as long as the upper band is not broken, it is advisable to consider short positions near the current oscillation high, as the dead cross of the fast and slow lines continues, although the current volume is not very strong! Both KDJ and RSI are in a neutral position, indicating that both long and short positions are possible at this level. A conservative suggestion is to wait for a pullback to short!
Today's Ethereum short position suggestion: Light short above 3835, stop loss at 3900; target 3780-3730; if it breaks 3700, you can continue to hold until around 3630!
Today's Ethereum long position suggestion: Light long below 3630; stop loss below 3580; target 3710-3800; specific entry opportunities for long positions can be monitored through Lihui's real-time updates! Continue to watch for strong support at the 4-hour lower band for early entry!
The article review and push have delays, and the market changes rapidly. Specific entry opportunities must be combined with real-time operations, and the article's suggested points are for reference only. Please do not operate with heavy positions; always set take profit and stop loss levels, and take profits when possible!
I, Lihui, interpret global economic news and analyze major trends in the cryptocurrency market. 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 unsure about trading!
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