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

Ethereum was also under pressure from evening to early morning, moving downward and touching the low at around 2188 before starting to rebound, with a strong momentum in the short term. The current price is hovering around 2300, with both bulls and bears taking turns to exert force, and the market has once again entered a consolidation pattern, with no signs of breaking out at present, and the daily level is also maintaining a consolidation.

From the perspective of the short-term hourly chart, the trend is near the middle track of the Bollinger Bands, with the market consolidating and testing back and forth. On the 4-hour level: a long lower shadow (2188 to 2297) has recently appeared, indicating strong buying support at the low, but has not yet broken through the key resistance of EMA30 (2358). On the daily level: there have been 3 consecutive days of closing with bullish candles and the closing price above EMA7 (2374), but overall it is still under the pressure of the 120-day moving average (2383), belonging to an oversold rebound structure. MACD: The 4-hour level DIF (-64.8) has crossed above DEA forming a golden cross, but the daily MACD histogram (-95) is still below the zero axis, indicating the weakness of the larger cycle remains unchanged. EMA: The price has first stood above the 4-hour EMA7 (2262), but the 30/120-day moving averages (2358/2489) are in a bearish arrangement, and the short-term moving averages have not yet golden crossed the long-term moving averages. Therefore, it is expected that the consolidation market will continue for some time, and the short-term strategy is to buy low at high positions. The upper resistance to watch is 2358, while the lower support is at 2100.

6.24 Ethereum Short-term Reference:

Lower testing entry points 2315-2375, defensive 2500, stop loss: 50, target below 2250,

Upper testing entry points 2105-2155, stop loss 30 points, target above 2200,

There may be delays in sending the article; the strategy suggestions are for reference only. The market changes rapidly, no matter how high the judgment on the market is, always set stop-loss and take-profit to ensure safety.