Zhang Lihui, edited at 7:08 AM Beijing time on July 7: Ethereum market analysis and trading suggestions:
As expected, the middle band of the Bollinger Bands on the daily chart provided secondary support. Lihui has been emphasizing the importance of this support over the past two days and reminded that short positions at low levels should be entered cautiously. I hope fans have not been trapped in short positions! It can be seen that the fast and slow lines have also successfully reversed the divergence upwards, and the MACD has increased its volume again above the 0 axis. The bulls are currently continuing towards the upper band, and the three bands at the current level are still moving upwards. The speed of the middle band’s upward movement is also quite fast, indicating that support is being raised further. Therefore, the low long defense or additional positions on the daily chart can still be placed at this position. On the upside, we continue to watch if the upper band can further break through the high point of July 3. If it breaks through, we can refer to the weekly MA60 mentioned by Lihui yesterday (currently 2778) and the upper band range. Conversely, if the high point near July 3 is pressured again, then it will continue to fluctuate around the middle and upper band range!
In the 1-hour chart, the candlestick has also rebounded again this morning, supported by the EMA60, EMA80, and EMA30 three lines, indicating that the bottom support is effectively raised, and it is currently forming support with the middle band range. The Bollinger Bands channel at the current level continues to move upwards. Attention should be paid to the strength of the volume above the 0 axis and whether a death cross can form. The KDJ and RSI show signs of overbought turning down. It is recommended to pay attention to short-term pullbacks to the EMA60, EMA80, EMA30 three lines and the middle band range for entry.
In summary, Lihui's thoughts for today remain unchanged, suggesting to continue entering light long positions on pullbacks!
Today's suggested long entry point for Ethereum: light long below 2550. Add long below 2500; stop loss at 2470; target 2600-2650; if it breaks above 2670, you can continue to hold until above 2700;
Today's suggested short entry point for Ethereum: the current bullish trend is strong, and specific entry opportunities for short positions need to be adjusted based on real-time market changes. Please pay attention to Lihui's real-time updates!
There may be delays in article review and push notifications; the market changes rapidly. Specific entry opportunities must be combined with actual trading operations, and real-time notifications should be prioritized. The suggested entry 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 BTC, ETH, LTC, DOT, EOS, BNB, SOL, and other cryptocurrencies. I welcome comments and messages from those who are not familiar with trading!
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