From the 1-hour and 4-hour charts, ETH quickly recovered after plummeting to around 2379 on June 6 and is currently oscillating near 2514. The K-line forms a bottom volume engulfing pattern, but momentum is gradually weakening, and it is still in a downward recovery range near the middle Bollinger band.
1-hour chart: The Bollinger bands are flattening, and the K-line is sticking to the moving average group, showing a converging triangle consolidation pattern. There is a short-term need for a breakout, but the momentum is weak, and the choice of direction is approaching.
4-hour chart: The moving average system has not fully reversed the bearish arrangement structure. The death cross of MA5 and MA10 is quite evident, and the middle Bollinger band around 2550 is the first resistance level for bullish rebound.
Daily chart: After a large bearish candle, the recovery in the next two days is weak, and the recovery of the pattern is not ideal. The upper EMA20 resistance is evident, and no real bullish reversal signal has formed yet.
Operation interval planning
Current price: 2514
First stop loss level: 2538
Second stop loss level: 2575
Stop loss level: 2475
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