Cryptocurrency Expert: The 7.1 Ethereum (ETH) daily line signal is fully bearish; where is the safe entry point for going long? Latest market analysis reference

The current price of Ethereum is 1570, and the daily K-line is currently in a clear downtrend channel, with the current price of 1570 near the lower Bollinger Band. Short-term rebounds are weak. The EMA moving average system shows a downward arrangement, with prices consistently under pressure below the 15-day and 30-day moving averages. Although the MACD indicator shows a shrinking green bar, the DIF remains below the zero axis, indicating that the downward momentum has not been fully released. The strong support below is at the previous low of 1503, and the first resistance level above is around 1640. The overall trend is bearish; any rebound resembles weak corrections rather than reversal signals.

The four-hour K-line is oscillating weakly below the middle Bollinger Band, with the price slightly consolidating around 1570, as the north-south struggle is fierce. The EMA moving averages are still in a downward arrangement, with the 1590-1600 range forming a short-term strong resistance zone, where the price has attempted several times without an effective breakthrough. The MACD indicator is near the zero axis, with red bars shrinking, showing insufficient rebound momentum. The Bollinger Band continues to narrow, indicating a high probability of choosing direction in the short term, with the overall rhythm still bearish and limited rebound height.

Short-term reference:

Do not break below 1530 to 1500 for going long, stop loss at 1470, target looking at 1570 to 1630.

Do not break above 1630 to 1670 for going short, stop loss at 1700, target looking at 1600 to 1550.

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