Zhang Lihui Edited at 7:06 AM Beijing time on March 2: Ethereum market analysis and trading advice:
The Ethereum market rebounded from the lower boundary of the 4-hour chart to 2055 last weekend and again formed a downward trend. In the early morning, affected by news, it broke below the mid-line, approaching the lower boundary, which may indicate the possibility of further decline. The MACD intentionally increased volume below the 0-axis, and the fast and slow lines are about to form a death cross. The KDJ three lines are crossing down towards 40, indicating a possible reoccurrence of overselling in the short term. The RSI three lines are also trending down towards 35, and the bearish trend still exists. Lihui believes that if you want to go long, you need to be patient! Today, you can first pay attention to whether the lower boundary of 1854 and yesterday's low can be supported again, or wait for signs of a bottoming out after the indicators are oversold before looking for entry opportunities, and do not chase shorts at low levels!
The Bollinger Bands on the daily chart are severely constricted, with short-term pressure from the upper boundary and MA30. The lower boundary of the daily chart coincides with the lower boundary of the 4-hour chart, indicating a key node in the short term! Currently, the fast and slow line golden cross indicator still exists and is in the closing phase of battle. Both the KDJ and RSI show signs of decline, and the K-line is also below the mid-line. It is recommended to wait for low buys or to intervene in high shorts if the upper boundary does not break during a pullback!
Today's suggested long position for Ethereum: Try going long with a light position below 1860, stop loss below 1750, target 1930-2030! A breakout above 2090-2130 can continue to be held long-term!
Today's suggested short position for Ethereum: Light shorts above 2030, stop loss above 2090, target 1950-1860! A breakout below 1850-1800 can continue to be held!
Article review processing is delayed, market conditions change rapidly, specific entry opportunities must be combined with real trading operations, based on real-time notifications. The suggested entry points in the article are for reference only, do not operate with heavy investments, and always set take-profit and stop-loss levels to secure profits!
I, Lihui, interpret global economic news, analyze major trends in the cryptocurrency world, and have conducted in-depth research on cryptocurrencies such as BTC, ETH, LTC, DOT, EOS, BNB, and SOL during my studies in the US. Comments and messages are welcome from friends who do not know how to trade!
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