Zhang Lihui, edited at 2:07 AM Beijing time on November 7: Today's Ethereum (ETH) market analysis and trading suggestions:
After the Ethereum 1-hour K-line dipped below the lower band, it rebounded again. The KDJ and DEA quickly turned upward after nearing the oversold zone. Currently, all three lines have formed a convergence pattern below the 50 value, indicating that there is still room for a short-term bullish rebound. The MACD shows a significant contraction in volume below the 0 axis, and after the fast and slow lines crossed, they are converging. In the short term, we will first look to see if it can break through the middle band; if it breaks, it can continue to rise towards the EMA60 (3422) and the upper band range! Support below is seen at the lower band and the daily MA220 support range!
Despite a significant drop during the day, the Bollinger Bands on the 4-hour chart did not show obvious expansion and remained parallel. The market rebounded after touching the lower band in the early morning, with the RSI recovering upwards as it approached the 30 value. The KDJ three lines showed a slowing down of the downward movement, and the MACD showed a slowing contraction in volume above the 0 axis, with the fast and slow lines converging, indicating a potential recovery pattern. Therefore, we can continue to focus on whether yesterday's high and upper band pressure can be broken; if it breaks, it can still be held until near the daily MA180 and EMA220 (3540).
Today's Ethereum short selling suggestion point one: Light short above 3540, stop loss above 3600; target 3420-3340; if it breaks 3300, it can continue to be held! Specific entry opportunities for short positions can be followed with real-time updates from Lihui!
Today's Ethereum long buying suggestion point one: Light long below 3270, stop loss below 3200; target 3350-3420-3470! If it breaks 3480, it can continue to be held until near 3540!
There may be delays in article review and push notifications; the market changes rapidly. Specific entry opportunities must be combined with real-time operations, and real-time notifications should be the standard. The suggested points in the article are for reference only; do not operate with heavy positions. Please ensure to 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 cryptocurrencies such as BTC, ETH, LTC, DOT, EOS, BNB, and SOL. For those who are not familiar with trading, feel free to leave comments! This article is exclusively published by (public account: Zhang Lihui) for reference only; risks are to be borne by the reader. May we remain humble and brave in the complex cryptocurrency world, unafraid of challenges and willing to explore. As the saying goes, "The road is long and has no ending; I will search high and low," I hope we keep pace with the times, absorb wisdom, travel thousands of miles, weather storms, and gain insights into life.
May you, under Lihui's guidance, leverage your strengths and avoid weaknesses, create value, and remember the market's baptism, staying true to your original intention. In the wave of digital currency, may we hold onto our beliefs, forge ahead, and jointly compose a brilliant future, sharing the joy of success. Let us work hand in hand to create brilliance in this investment journey full of challenges and opportunities!
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