Cryptocurrency Scholar: After the sharp drop of Ethereum on 6.13, it entered a consolidation phase. Is the bottom-fishing opportunity not yet here? Latest market analysis and operational advice

Ethereum's current price is 1663. The current trend of Ethereum is positioned here; bottom-fishing against the market trend is counterproductive. Don’t just see a big drop and think it’s cheap; the saying that the drop does not indicate the bottom is always applicable. There are many temptations for small rebounds; stick to your operational plan, act when the price reaches the target, and patiently observe if it hasn’t. If you incur losses, don’t stubbornly hold on; if you make profits, don’t be greedy—take some profit. Accumulating stable small profits is far more reliable than taking a big gamble.

The daily K-line shows a weak sideways decline pattern. All EMA lines are arranged downward, with the short-term 15 EMA at 1763 and the 30 EMA at 1899 pressing down prices. The key resistance above is 2242, the 78.6% retracement level of the downward trend. The MACD dual lines are deeply buried below the zero axis, with the downward energy columns continuously outputting, and the downward momentum remains sufficient. The Bollinger Bands have opened significantly downward, with the market operating along the lower band. The lower band supports at 1468, with the previous low at 1503 serving as a strong psychological support level. Previous small rebounds have failed to rise above the short-term moving average, indicating there is no upward counterattack power. The downward main trend is established at the daily level, and every round of rebounds presents a solid opportunity for downward positioning.

The four-hour K-line shows a narrow fluctuation after over-bleeding, with an increase of only 0.28% and extremely weak rebound strength. The mid to long-term EMAs point downward, with the 23.6% Fibonacci level at 1730 being the first barrier for upward movement; if it cannot break, the rebound space will be directly locked. The MACD shows a weak golden cross, with the volume of the red columns being very small; this is merely a technical recovery after the drop, not a reversal signal. The Bollinger Bands' channel has narrowed, with the upper and lower band range between 1615 and 1686, and the price is stuck below the middle band under pressure. The 4-hour sideways move consumes the downward energy, but there is no established bottom structure. Once the recovery cycle is completed, the downward force will be released again, with a very high probability of following the daily trend downwards.

Short-term reference:

Sell down from 1720 to 1750, stop loss at 1800, target at 1650 to 1550

Buy up from 1600 to 1550, stop loss at 1500, target at 1650 to 1720

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