ETH Market Analysis
Since June 9th at 10 PM, I reminded everyone that Ethereum might have a big move coming. At that time, the price was around 2520, and it has now risen by over 300 points, reaching a high of 2832. Congratulations✌
In the past two days, Ethereum's surge has left retail investors a bit confused. This is the nature of Ethereum, and I mentioned this position on the 9th, where the opportunity outweighs the risk!
I have been emphasizing that the weekly level has not finalized; it is just a minor-level correction. Currently, at this point in technical charts, we are already at Wednesday this week. The larger weekly level still looks good, but we need to pay attention to the current daily level's formation and the one-hour level's correction. The reason for focusing on the daily level is that it has formed a departure segment, and we should observe whether the MACD will produce a big bullish candle that continues to push upward after the zero axis. If there is no sustained bullish candle to push upward, we need to be cautious of the risk of a peak forming at this position due to divergence. Currently, the one-hour level has seen three segments of movement, with each segment weakening, and its auxiliary indicators also need to be corrected. Therefore, in the next two days, we should pay attention to the support at the lower level of 2720 not breaking. It will attempt to touch the four-hour to daily high points again. The lower defense level is at 2670, while the upper resistance at 2820 needs to be checked for stability at the daily level. If it can stabilize, it will open up space above. For detailed support and resistance, please refer to the chart below. In summary, the intraday movement will primarily consist of fluctuations and corrective movements.
This personal analysis is for reference only and does not constitute investment advice. Wishing you continued prosperity💰
