6.19 Cryptocurrency Mr. Coin: Ethereum (ETH) Market Analysis Reference

Ethereum's recent rebound has been relatively weak, with multiple attempts to break through the resistance at 2550 but failing. Starting from noon today, bullish sentiment has weakened again, and the market has entered a correction phase. Currently, the low is nearing the support level at 2460. If it breaks below this, there is a risk of further decline.

In the short-term hourly chart, the market has repeatedly shown a downward trend. A bottoming recovery pattern has recently appeared on the 4-hour chart, with a minimum touch of 2465 followed by a quick rebound to 2537, forming a long lower shadow. On the daily chart, there have been three consecutive days of candlesticks with long upper and lower shadows, indicating fierce competition between bulls and bears. MACD: On the 4-hour chart, the DIF and DEA have leveled off after a death cross below the zero axis, with the green histogram bars shortening; on the daily chart, the MACD continues to decline after a death cross at a high level. EMA: The price has fallen below EMA30 (2554) and EMA120 (2565) on the 4-hour chart; on the daily chart, EMA7 (2553) has crossed below EMA30 (2524). The intraday trend is weak, so we still need to be cautious about a potential breakdown leading to further declines, particularly focusing on the support at the 2450 level to prevent a significant drop if it breaks.

Recently, the market rebound has entered a consolidation phase, with both bulls and bears maintaining a stalemate. Therefore, until a breakout occurs, we will maintain a high position and low long strategy. Currently, for the short term, the support level to watch below is 2450, and the resistance level above is 2565.

6.19 Short-term reference for Ethereum:

Lower entry point 2535-2595, stop loss at 2700, stop loss: 50, target below 2500,

Upper entry point 2405-2455, stop loss 30 points, target above 2500,

There may be delays in sending articles, and strategy suggestions are for reference only. The market changes rapidly; no matter how confident your judgment is, always set your take profit and stop loss to secure your gains.