6.20 Ethereum Market Analysis

Ethereum's rebound this week has been suppressed by the Fibonacci level of 2680, leading to a pullback. Currently, it is still in a low-level consolidation. The hourly moving average broke the midline for the first time after reaching a high this week. If the closing price remains at 2480, we can look forward to the 2300 level. Short-term pressure to watch is at 2540; if reached, it presents an opportunity for short positions. The MACD indicator in the attached chart is hovering around the zero axis with green energy bars lacking volume. Overall, Ethereum can be positioned for short trades after a rebound today.

Suggested Action: Short in batches at 2540-2560

Target: 2490-2350

Risk Control: 2585