Zhang Lihui, edited on May 9 at 6:38 AM Beijing time: Ethereum Market Analysis and Trading Suggestions:
After two months of silence at low levels, Ethereum's price has once again seen a daily increase of over 400 points, which is both frustrating and infuriating. For spot holders, this is a glimmer of hope, and those who were trapped at high levels can finally breathe a sigh of relief. However, this all comes too late and has not been easy! The daily K-line has broken through EMA30 directly from yesterday's opening, piercing EMA60 and EMA80, and is currently hovering above EMA120, forming a pullback. Lihui mentioned yesterday that Ethereum has room for a rebound, and everyone should avoid opening short positions casually. I hope it can continue to build momentum and keep pace with Bitcoin, becoming a proactive second player!
Today, we need to look at the 2100 level and EMA80 for potential pullback entries, as 2100 is the high point from March and can be considered a support node. The second support is at the EMA80 level. However, we still need to observe the strength of the intraday pullback; if it is slow, these two levels may not be reached and adjustments will be necessary! The upper target remains EMA120 and the 2250 range; if it breaks through, we can continue to look towards MA120 and EMA180.
From a weekly perspective, Ethereum still faces significant pressure above. The current K-line has not successfully stood above the upper track and EMA220, and there are first pressures from the crossing of MA180 and EMA180, as well as pressures from EMA120 and EMA60. The fast and slow lines have not yet successfully converged to form a golden cross. It is still too early to judge the transition as a major bullish phase; we need to continue monitoring the recent momentum changes in the correlation between Bitcoin and Ethereum!
Today's suggested long entry point: go long near the 2100 level, with a stop loss at 2000 and a stop loss at 1960; target 2180-2220; if it breaks through the 2230-2250 level, you can continue to hold above 2300!
For short positions, it is advisable to be conservative due to the risk of a rebound; it may be better to wait for the weekly close before considering! Specific trading opportunities can be consulted with Lihui at any time.
There may be delays in article review and push notifications; market conditions change rapidly, and specific entry opportunities must be combined with real-time operations. The suggested points in the article are for reference only; please do not operate with heavy positions. When entering, please set take-profit and stop-loss levels, and take profits when they are available!
I, Lihui, interpret world economic news and analyze global cryptocurrency trends. During my studies in the U.S., I have conducted in-depth research on BTC, ETH, LTC, DOT, EOS, BNB, SOL, and other cryptocurrencies. I welcome comments and messages from those who are unsure about trading!
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This article is exclusively published by (WeChat Official Account: Zhang Lihui) and is for reference only; risks are 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 ahead is long and has no ending; yet high and low I'll search with my will unbending." I hope we keep pace with the times, draw 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 together compose a brilliant future, sharing the joy of success. Let us work hand in hand to create brilliance on this investment journey filled with challenges and opportunities!
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