9.16 Mr. Coin in the Coin Circle: Ethereum (ETH) Market Analysis Reference

The market of Ethereum also broke down from the early morning to the morning, and the price fell below the heavy support of 2400 to 2300. Finally, the low position was around 2351 before rebounding. The current market is running in the area around 2300. The short-term pressure from the upper side focuses on the 2380 line. If it fails to break through and stabilize in the future, the price may fall below the 2300 line and fall again. As the market of Ethereum as a whole did not break through the 2480-2500 mark, the space below was further opened, and the price correction entered a wide range of fluctuations again.

On the short-term hourly chart, the price showed a multi-sided negative candlestick. Yesterday, the price showed obvious high-level fluctuations in the range above 2400, and then fell rapidly to below 2300, which weakened the upward momentum. The correction was only because of the temporary suspension of this wave of rebound. If it fails to break through the 4 small middle rails in the future, the price is expected to fall further. In the 4-hour period, the MACD fast and slow lines diverge downward, and both DIF and DEA are negative, indicating that the current market is in a bearish trend. EMA7, EMA30 and EMA120 are all showing a downward trend, and the price is lower than all moving averages, further confirming the current bearish trend. EMA7 (2326.02) and EMA30 (2361.68) have a strong suppressive effect on the price, so it is not recommended to blindly chase the long position, beware of the market retreating to the support again. It is recommended to rebound short position, and try long position with a light position at the pullback support level.

9.16 Ethereum evening short-term reference:

Short position: 2400-2370 short position, defense 2500 cover, stop loss: 2540 target below 2340,

Short position 2 (aggressives try short position with a light position in the 2310-2330 range) target defense is the same as above,

Long position pays attention to the break of 2250 in the 2180-2200-2230 range, stop loss 50 points, target above 2320,

9.16 evening Bitcoin short-term reference:

Long position, Long in the 58100-58600 range, defend at 57200, stop loss 300 points, target above 59500,

Long in the 57100-57400 range, target above 58500, stop loss 300 points,

Short, short in the 60200-60500 range, target below 59500, defend at 61500, stop loss 62000

(Aggressives can rebound at 59500-59300) light position in the range to try short,

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