Crypto Circle Li Ying: June 9th Ethereum (ETH) Latest Market Analysis and Trading Recommendations

　　
　　Fellow traders, Ethereum is currently priced at 1692. We need to clarify this recent trend! It previously dropped from above 2000 down to around 1503, and now it’s rebounding to 1692. It looks like the market is warming up, but don’t rush to buy in. The short-term moving averages EMA7 and EMA30 have already turned upward, indicating short-term funds are bottom-fishing; however, the long-term EMA120 is still pressing downward, so the overall trend hasn't fully reversed. The MACD red histogram is narrowing but hasn't yet crossed over, and the middle band of the Bollinger Bands is supporting the price. This is a critical point where the rebound faces resistance—buying at the high risks getting trapped. Waiting for a pullback to confirm support before entering is more stable!
　　
　　Technical indicator breakdown for details: Regarding EMAs, EMA7 and EMA30 form a bullish arrangement, showing strong short-term momentum, but EMA120 acts like a mountain pressing down, making a big move unlikely before a breakout; MACD’s DIF is above DEA, the red histogram is shrinking but still positive, indicating the upward momentum is still there, just weakening; the middle band of the Bollinger Bands at 1644 is the core support, and the upper band at 1711 is a resistance level. The price is trading above the middle band, indicating a sideways to bullish zone. As long as it doesn’t break below the middle band, the rebound logic remains valid.
　　
　　Short-term reference:
　　
　　Buy at 1665-1600, exit if it breaks below 1560, target 1700 aiming for above 1750
　　
　　Sell at 1700-1730, exit if it breaks above 1760, target 1650 aiming for below 1600
　　
　　All content is independently created by Li Ying. Please credit the source when reprinting! Due to delays in article review and publication, market conditions change rapidly. The above suggestions are for reference only; trade at your own risk. We hope Li Ying’s analysis can be helpful to you!
　　
　　The article content is real-time and for reference only; trade cautiously.