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

The market continues to maintain a weak oscillation, with two intraday rebounds being pressured and pulling back near the 2560 level. The current price is running around 2550. Although it is close to the resistance level in the short term, the rebound strength is not strong, and there is a pullback, so it is not recommended to blindly chase long positions to avoid unnecessary losses caused by market reversals.

On the short-term hourly chart, the Bollinger Bands are narrowing downward, and the price is operating in the middle-lower track area. The low touched around 2505, leading to a rebound. The price is close to the midline, but the rebound still lacks strength. In the auxiliary indicators, the MACD lines are tending to be parallel with signs of a golden cross, and the RSI is turning upward. Therefore, it can be seen that there is a possibility of a short-term rebound. Key resistance to watch above is 2591, and we recommend a cautious approach with a focus on shorting at high levels.

6.16 Ethereum Short-term Reference:

Lower test entry points 2645-2585, stop loss at 2800, stop loss: 50, target below 2530,

Upper test entry points 2405-2355, stop loss 30 points, target above 2480,

The article is sent with a delay, and the strategy suggestions are for reference only. The market changes rapidly, and no matter how confident one is in market judgment, take profit and stop loss must be managed well, securing gains.