Crypto Circle Li Ying: Analysis of Ethereum (ETH) Latest Market Trends and Trading Recommendations on June 7th

Family members, Ethereum's current price is 1560, does it make your heart race? From the high point of 2140, it has been sliding down the slide all the way, with not even a decent rebound in the middle, simply pressing the bulls to the ground and rubbing. Many brothers ask if they can buy the dip, I say don’t rush, this market is like falling knives, if you catch it wrong, you'll end up with blood on your hands. The current trend is very typical, characterized by continuous downward decline, with each slight rise being knocked down again. Today’s analysis, I won’t talk nonsense, I’ll directly show you the current market logic, tell you how to preserve your principal in this weak market, and even make some profit!

Technical indicators are deeply dissected: EMA7, EMA30, and EMA120 form a perfect bearish alignment. The price is firmly pressed below EMA7, indicating very heavy short-term selling pressure, unable to even perform basic recovery. Regarding the MACD indicator, the fast and slow lines are dead-crossing downward deep in the zero axis, although the bearish momentum has not significantly increased, there is no obvious bottom divergence, indicating that the downward momentum is still being released. The Bollinger Bands are opening downward, with the price closely following the lower band at 1494, showing extreme weakness. The middle band at 1613 has become a very strong dynamic resistance level; as long as it cannot break above the middle band, all upward movements can only be considered oversold rebounds.

Short-term reference:

Buy at 1490-1460, exit if it breaks below 1430, target 1550 aiming for above 1600

Sell at 1600-1650, exit if it breaks above 1700, target 1550 aiming for below 1500

The above content is exclusively original by Li Ying. Please indicate the source when reprinting! Due to the delay in article review and publication, market conditions change rapidly. The above suggestions are for reference only; trade at your own risk. I hope Li Ying’s analysis can be helpful to you!

The content of this article is real-time and for reference only; trade $ETH at your own risk.