6.18 ETH Midday Analysis: Technicals Favor Bullish Outlook, New Highs Possible?

In the midday observation on June 18, the technicals for Ethereum show a bullish dominance. On the news front, market attention towards the Ethereum ecosystem has been steadily increasing, with several new application projects based on the Ethereum network being developed, bringing certain room for value growth.

Technically, the ETH price trend is strong, the moving average system is in a bullish arrangement, and the short-term moving average has crossed above the long-term moving average, indicating that the short-term bullish strength in the market is relatively strong. The MACD indicator is also above the zero line, with the histogram gradually increasing, suggesting that the upward momentum is gradually strengthening. However, there is also some pressure above, with resistance levels formed around 3550 due to previous dense trading areas.

Operational suggestions: Closely observe whether there is a downward trend if it pulls back to 3550. If the downward movement lacks strength, it means strong support below, and at this time, one can consider going long. If a rapid sell-off occurs, it indicates that bearish strength has suddenly increased, and one can follow the trend. The view is to go long at current prices with light positions around 3560 - 3580, targeting the 3650 - 3700 range. However, special attention should be paid; if the price quickly breaks key support levels, one can go short and adjust trading strategies in a timely manner to respond to market changes. However, the market is ever-changing, and trading decisions should be flexibly judged based on real-time market conditions.

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