Zhang Lihui edited on July 23 at 1:08 AM Beijing time: Ethereum Market Analysis and Trading Suggestions:
It can be seen that the Bollinger Bands on the 4-hour chart for Ethereum are trending downwards. The intraday candlestick has tested the support at the EMA30 position twice, but the rebound strength has not met Lihui's expectations. Currently, it is facing resistance at the middle band. The MACD at the current level continues to show a dead cross opening, with some intention to accumulate below the 0 axis, but the volume is not significant. The KDJ lines are crossing upwards weakly, and the same goes for the RSI, indicating that the bearish sentiment still persists, which Lihui mentioned yesterday! The larger timeframe still needs to pay attention to the important support at the middle band on the daily chart and the convergence of the fast and slow lines. Additionally, both KDJ and RSI are showing overbought conditions turning downwards! The short-term 1-hour chart has also entered an overbought turning point phenomenon. Although a golden cross has just formed, the bulls have not exploded, suggesting that a peak may be seen again in the short term. Everyone should be cautious when entering long positions, as it is not surprising to see a significant pullback after so many consecutive days of increase! Based on the performance across various levels, Lihui believes it may be time to consider gradually testing short positions!
Today's suggested short entry point for Ethereum: Short above 2730, stop loss at 3790; target 3680-3630, if breaking below 3620-3600, you can continue to hold!
Today's suggested long entry point for Ethereum: Long below 3630; stop loss at 3570; target 3690-3740; if breaking above 3745-3755, you can continue to hold and watch for extension. If it strongly breaks above yesterday's high, you can hold until above 3800; specific entry opportunities for long positions can be followed through Lihui's real-time updates! Please note that entry should only be made when there are three tests at the 4-hour EMA30 support!
There may be delays in article review and push notifications, 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; ensure to set take profit and stop loss levels, and take profits when favorable!
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 not familiar with trading!
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