Crypto Circle Academician: Will the Non-Farm Payroll Night on June 6th Turn Turbulent? Ethereum Sold Off Four Times at High Levels, a Drop Could Lead to a Waterfall Decline! Latest Market Analysis Reference
Current Ethereum Price: 2560, it is currently 1 AM Beijing time, and the grinding market has lasted for a week. The southbound trend has finally started to show a profit, currently with only a little over 50 points of space. There's no rush; even if the market does not drop, it is advisable not to liquidate all holdings during the sideways movement near 2500 in the short term. After locking in profits, keep some base positions. The bearish momentum is not over yet, and do not rush northbound. An upward move requires momentum. The main force has been selling back and forth around 2700, and most of the current buyers are retail investors.
The daily K-line showed a high of 2640 and a low of 2555, just standing at the support level of the EMA15 trend line. The next support to watch is the EMA30 and the key Fibonacci retracement level 0.382 at 2430. If broken, it could continue to look down. The MACD has shown continuous bearish divergence with reduced volume. Combined with the main force selling off at high levels four times and whether tonight's Non-Farm Payroll is related? We can only know after the Non-Farm results come out. The Bollinger Bands are also extremely contracted with no clear direction, with the upper band at 2680 and the lower band at 2454. The market momentum is weakening, favoring the short side.
The four-hour K-line shows that there have been four consecutive bends and sell-offs at high levels. Is this time returning to 2500 to continue sideways, or will it directly break the previous low? Currently, the four-hour K-line has broken below the EMA60 support at 2560. The MACD shows reduced volume and accumulation, with the DIF and DEA forming a death cross trend at high levels. The Bollinger Bands have shown a contraction market, with the K-line reaching the lower support line at 2545, and the middle line at 2664 becoming a new resistance point. For coin friends who haven't entered yet, it's advisable to be cautious and wait for a pullback above 2600 to consider positioning; being too aggressive at the current price is not good, safety first.
Short-term reference: Safety first. Remember that markets are not 100% certain, so always implement stop-loss measures. Safety first; small losses for big gains is the goal.
Northbound test entry point 2350 to over 2300, with a defense at 2250, stop-loss 30 points, target looking at 2400 to 2450, if broken, look at 2500 to 2550.
Southbound test entry point 2600 to 2650 short, with a defense at 2680 short, stop-loss 30 points, target looking at 2550 to 2500, if broken, look at 2450 to 2400.
Specific operations should be based on real-time market data. For more detailed information, you can consult the author. There may be delays in the publication of articles, and this is for reference only; risk is to be borne by the reader.