ETH
On June 9th, the price was still around 2500, and I mentioned in the square that this level would reach a daily high, peaking at 2878, and then made a beautiful pattern.
Currently, Ethereum, like Bitcoin, has returned to the lower edge of the range. Regardless of the top two positions, this level is a short-term defensive point because both have reached a daily high and are experiencing a pullback, forming a daily divergence. Therefore, we also need to pay attention to whether the daily MACD for Ethereum can break below the zero line. If it breaks below the zero line, it will attempt to make a second bottom at the weekly level, and the period for the weekly second bottom will definitely be longer, but it must first break below the 2400 defensive level.
For those looking to do short-term trading, we need to pay attention to the current hourly market. The hourly market is currently fluctuating around the range of 2470 to 2540. If it cannot effectively stabilize above the 2540 level, it will make a small downward move. As long as this small move does not break 2400, we can look for a short-term opportunity.
Support: 2473-2400
Resistance: 2550-2595
Personal analysis for reference only, not investment advice 💰
