Ethereum ETH Market Analysis and Trading Suggestions on July 2 (Written at 7:56)
The current price of Ethereum is near 2400. The 4H chart shows an overall downward trend, and it is likely to break below the low defense zone that has been held for several days. In the short term, the market trend remains bearish, primarily focusing on further probing support levels. Indicators show that market sentiment is weak, but oversold conditions may lead to a brief rebound or consolidation. Key points to watch are the support level at 2370 and the resistance at the mid-line of 2454. It is suggested that if the price effectively breaks below the 2370 support, the target profit-taking level could continue to be seen around 2300. The current trend mainly favors short trades on rebounds; it is not recommended to gamble on short-term longs at high levels. The recent candlestick pattern, accompanied by the "Three Black Crows," indicates strong short-term downward momentum, with a focus on the key support area below 2300. In the MACD, the DIF line has crossed below the DEA line, forming a death cross again, and the negative value of the histogram continues to expand, reflecting an increase in bearish momentum. In the KDJ, the K value has entered the oversold zone, and the J value has dropped below the zero axis with no signs of rebound, indicating weak market sentiment. The TD sequence signals "9" and "13" indicate that the trend direction has weakened, with further downward pressure expected in the short term. In the MA indicators, all EMA moving averages are under pressure, and the price faces resistance in the MA90 to MA60 range, showing a clear bearish trend. In summary, it is suggested to maintain a position similar to Bitcoin, continuing to enter short positions as the mid-line and upper line face pressure during rebounds.
Sell Point: Short above 2430, stop loss above 2470; take profit at 2380; if breaking below the key support at 2370, it can be held down to below 2300.
Buy Point: Pay attention to the daily death cross with volume increase; the current position does not recommend longs. The MA150 and MA90 (2240-2205) range serves as a short-term support area for low long opportunities!
The article review and push have delays; the above points are for reference only. Please grasp the timing of buying and selling yourself, and ensure proper risk control when entering the market. Do not operate with heavy positions! Thank you for reading!
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