Future Outlook for Ethereum ETFs
The trend of spot ETFs could have a significant impact on the price of Ethereum in the coming months. Earlier this week, the U.S. Securities and Exchange Commission (SEC) approved spot ETFs for listing in early July, which greatly raised investor expectations.
Communication: eth6161
Ethereum Price Prediction: New Highs in Sight
Currently, the price of Ethereum is around $3,395, still some distance from its all-time high. After the spot ETH ETF was approved, the second largest cryptocurrency rose by more than 30%, but ETH fell 13% at the beginning of this month, wiping out nearly half of its gains. This decline was mainly caused by the uncertainty surrounding the launch of the ETF and the bearish signals of the overall market.
However, as the market gets closer to the launch of ETFs, the situation may change. The price of Bitcoin started to trend upward after the launch of spot ETFs, and similar results are expected for Ethereum.
Ethereum (ETH) latest market analysis
As of press time, the current price of Ethereum is around 3470. Yesterday's trading strategy was to enter the market with a short position at 3520, and half of the position was opened at 3450. The remaining target is 3400, which is still being held. The daily K-line shows that the price fell back after breaking the highest point of the EMA trend indicator at 3490, indicating that there is still strong resistance for bulls in the short term. MACD continues to shrink and increase, and DIF and DEA have a trend of forming a golden cross. If the price reaches 3620, it is necessary to adjust the position and continue to hold. KDJ opens upward and spreads, and the Bollinger Band shrinks downward. The daily K-line broke the middle track of the Bollinger Band at 3470 and then fell back. Although there is a bullish trend in the short term, the general trend is still bearish, so it is still mainly shorting at the pressure level, and considering going long after stepping back to the support level.
Four-hour K-line analysis
The four-hour K-line fell back after breaking through the EMA trend indicator high of 3500. At present, the bulls are expected to break the previous high again. The trend pressure point is around 3610. MACD began to move downward with large volume, and KDJ formed a dead cross downward. The Bollinger Bands opened wider, and the four-hour K-line broke through the upper rail pressure point of 3490 and returned to the Bollinger Channel. The overall trend was blocked by short-term bullishness, and it is currently consolidating near the high pressure level. Therefore, the operation strategy should be to short at highs and consider going long at low support. When trading, you must strictly implement the trading system and do not let market fluctuations affect your mentality.
Short-term trading strategies
Currently holding a short position at 3520, the trading strategy remains unchanged and is still effective:
Arrange short orders in the upper range of 3520 to 3530, defend at 3600 to 3620 to cover short positions, stop loss at 30 points, and the exit target is 100 to 200 points.
Pay attention to the 3330 to 3300 range to arrange long orders, defend the 3250 to 3230 range to add long positions, stop loss at 30 points, and the exit target is around 3400, and the second target is around 3450.
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