2024.6.3 Ethereum market analysis and operation suggestions
Market Analysis
Ethereum's recent trend is in a triangular convergence pattern. In the absence of major positive or negative news, the market may continue to fluctuate within a range. The following is a detailed analysis of different time periods:
1 hour line analysis
Bollinger Bands: The channel is narrow, indicating low volatility. The current price is in a new downward channel, with multiple pressures from the EMA10, 15, 30, 60, 80 moving averages and the middle track of the Bollinger Bands.
KDJ indicator: three lines cross upward, and the short-term rebound space is limited.
MACD indicator: volume closed below the 0 axis, and the DIF line intentionally turned close to the DEA line, indicating that the short-selling force has weakened.
4-hour line analysis
Bollinger Bands: The channel continues to shrink and narrow. The price rebounds at the bottom trend line support and hits the intersection of the upper EMA10, 15, and 30 moving averages.
KDJ indicator: shows signs of oversold and has rebound potential.
MACD indicator: The volume is close to closing below the 0 axis, and the DIF line intends to form a dead cross with the DEA line. We need to pay attention to the short-term trend.
Overall, Ethereum is currently in a high-level oscillation state. In the short term, we should pay attention to the high-altitude and low-multiple opportunities in the range. Pay attention to the pressure of the 3810-3830 area on the top and the support of the 3700-3730 area on the bottom.
Recommendations
Short selling strategy
Entry point: $3810-3830
Stop loss: $3,850
Target: $3770-3740; $3735, $3700 if broken
Long Strategy
Entry point: $3700-3730
Stop loss: set according to personal risk tolerance
Target position: 50-80 points. It is not recommended to hold short-term long orders for a long time to prevent the risk of market changes.
Trading Tips
Short-term operations: Due to the low volatility of the current market, it is recommended to respond flexibly to market changes and strictly control risks.
Key points: Pay attention to the pressure and support levels of the Bollinger Bands and EMA moving averages. Once these key points are broken or broken, a new round of fluctuations may be triggered.
Through the above analysis and suggestions, I hope you can achieve ideal returns in Ethereum trading. Pay attention to market dynamics, set stop loss and take profit reasonably, and maintain the flexibility and robustness of trading.
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