10.27 Zhang Lihui: Ethereum Market Analysis and Trading Suggestions:
Incredible! After taking profits on Ethereum long positions the night before, Ethereum experienced a significant pullback again early yesterday morning. Lihui set up long positions around 2414 after the spike, and the trading suggestion in the article was also to enter long positions at the current price of 2450-2420. By the time of the early morning high, one could have gained 50-80 points. I wonder if everyone managed to follow along? For those who missed out yesterday, please refer to the analysis below:
From the current market perspective, Ethereum has indeed rebounded significantly during the day. In the 1-hour chart, the Bollinger Bands are opening up, and the price has already hit the upper MA80 position. Therefore, it is reasonable to enter long positions after a sharp drop and spike, especially since a low-level golden cross has formed, which is relatively stable. However, with the current market showing an upper shadow, the price may pull back again, with support at MA15, MA30, and the middle band. If the market rebounds again, it could break above the MA120 position.
In the 4-hour chart, the Bollinger Bands seem to be ending the downward channel, with the lower band starting to flatten out, and both the upper and middle bands beginning to rise. The pullback support is seen at the middle band and the MA7 range, while the upper pressure is at the MA120 and MA30, which coincide with the upper band. However, the MACD is starting to increase above the zero line, and a low-level golden cross has also formed, suggesting there might be a surprise continuation of the rebound.
Based on the above indicators, Lihui suggests that it is better to enter long positions on pullbacks. Short-term longs may continue to spread, but considering the multiple resistance indicators above Ethereum, caution is advised. It would be wise to observe the strength of the intraday breakout before considering short positions.
It is suggested to enter long positions in the 2460-2430 range, with a stop loss below 2415; target levels are 2510-2540. If it breaks above 2550-2570, one can hold until above 2600.
For short positions, pay attention to the 4-hour MA120 and MA80 levels; specific entry opportunities can be determined based on market changes.
The article review and push have delays, and the market changes rapidly. Specific entry opportunities must be combined with real-time operations, with real-time notifications as the standard. The suggested points in the article are for reference only; please do not operate with heavy positions. Always set take-profit and stop-loss levels, and take profits when they are available!
I, Lihui, interpret global economic news and analyze major trends in the cryptocurrency market. During my studies in the U.S., I conducted in-depth research on cryptocurrencies such as BTC, ETH, LTC, DOT, EOS, BNB, and SOL. I welcome comments and messages from those who are unsure about trading!
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This article is exclusively published by (WeChat Official Account: Zhang Lihui) and is for reference only; the risk is borne by the reader. May we remain humble and brave in the complex cryptocurrency market, unafraid of challenges and willing to explore. As the saying goes, "The road ahead is long and has no ending; yet high and low I'll search with my will unbending." I hope we keep pace with the times, absorb wisdom, travel thousands of miles, weather storms, and gain insights into life.
May you, under Lihui's guidance, leverage your strengths and avoid weaknesses, create value, and remember the market's trials, staying true to your original intentions. In the wave of digital currency, may we hold onto our beliefs, forge ahead, and together compose a brilliant future, sharing the joy of success. Let us join hands and move forward together on this investment journey filled with challenges and opportunities, creating brilliance together!
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