Lao Lin: 2024.6.14 Ethereum (ETH) latest market analysis

market Overview

As of 2:30 this morning, the price of Ethereum (ETH) stabilized at around $3,470. The overall trend showed a negative line, and the daily K-line fell below the key support level EMA60 ($3,465), indicating that the market is experiencing a period of weakness and the strength of shorts continues to increase.

Technical indicator analysis

EMA (Exponential Moving Average):

  • The overall trend of EMA is weak and the bearish force continues.

KDJ indicator:

  • The KDJ indicator continues to spread downward, indicating that the selling pressure in the market has increased and may decline further in the short term.

Bollinger Bands:

  • After the Bollinger Band opened, the daily K-line moved sideways near the lower track of the Bollinger Band (US$3,511), indicating that the market was in a low-level oscillation state.

MACD indicator:

  • The MACD indicator has continued to decline since the high of $3,900 and is currently hovering around $3,430. DIF and DEA spread downward at high levels, close to the 0 axis, indicating strong selling pressure in the market.

Four-hour K-line analysis

Double bottom pattern:

  • The four-hour candlestick chart shows a double bottom pattern, indicating that there may be a correction.

EMA Trend:

  • The EMA trend is net-shaped downward but is nearing its end, indicating that the bearish power is weakening and the market has the potential for a correction.

KDJ indicator:

  • The KDJ downward spread encountered resistance at the $3,430 support level, indicating limited downside space.

Bollinger Bands:

  • The lower Bollinger Band support point is at $3,400, providing strong support.

MACD indicator:

  • MACD's downward trend with shrinking volume shows a signal of increasing funds, indicating that the market is beginning to accumulate buying power.

Short-term operation strategy

Long strategy:

  • Entry point: Focus on the range of 3430 to 3400 US dollars for layout.

  • Stop loss: set 30 points below $3,400.

  • Exit target: reference range of $3500 to $3550.

Short selling strategy:

  • Entry point: Focus on the range of 3520 to 3550 US dollars for layout.

  • Stop loss: set 30 points above $3,550.

  • Exit target: refer to the $3450 to $3430 range.

Bullish trend layout:

  • Entry point: Focus on long positions around $3,300.

  • Target space: Refer to the upside space of about 50 to 200 points.

The market is unpredictable and opportunities are fleeting. Only by paying close attention to every subtle change and seizing your own opportunities can you remain invincible in the ups and downs of the market. Are you ready today? Let's look forward to the wonderful performance of the market together!