Cryptocurrency Scholar: Is Ethereum's pullback on June 18 poised for a surge? Or will it plummet from here? Latest market analysis and reference advice
Ethereum's current price is 2460, it is now 1:30 AM Beijing time. The market opened with a one-sided trend on Monday and also opened with a one-sided trend on Tuesday, with longs and shorts alternating. Yesterday, the bulls broke 2660, while today the bears broke 2480. These are all short-term support and resistance levels. The market has reached the bottom of the range around 2400, so there’s no need to elaborate on how to operate; just avoid counter-trend orders when the market is in the hunting range and go with the flow.
The daily candlestick has a high of 2617 and a low of 2450. The EMA trend indicator has concentrated support points above 2380. The 0.382 Fibonacci retracement level support to watch is 2425. The MACD top divergence trend still exists, with the DIF and DEA remaining above the zero axis, but in the short term, the bears are gaining strength. As long as the key trend support below does not break, the bulls will have the momentum to recover, so it is necessary to try long positions after reaching support. This way, if the support breaks, the loss will be small, and if it doesn’t break, it will be a big profit. Profit and loss originate from the same source.
The four-hour candlestick is near the rising trend support point at 2425. The EMA trend indicator shows a bearish trend. The MACD is beginning to reduce volume and accumulate. The DIF and DEA have formed a death cross bearish trend. The candlestick has already broken below the lower Bollinger Band at 2456. Currently, there is clear support at the lower band, but the bearish momentum in the order book has not disappeared, indicating that there is still potential for further downside. Before that, either wait for a pullback and open a short position at the resistance level, or wait for the key support to try long positions.
Short-term reference: Safety first. Remember the market is not 100% predictable, so always have a stop-loss. Safety first; small losses and big profits are the goal.
Long position try point 2550 to 2580, with a stop-loss at 2600, stop-loss of 30 points, target looking at 2500 to 2450, if broken look at 2400 to 2350.
Short position try point 2380 to 2350, with a stop-loss at 2310, stop-loss of 30 points, target looking at 2430 to 2470, if broken look at 2510 to 2550.
Specific operations should be based on real-time market data. For more information, you can consult the author. The article publication may be delayed; suggestions are for reference only, and risks are borne by the reader. $$ETH