Crypto Circle Academician: June 10 Ethereum Daily Chart Pressed Downward, 4-Hour Rebound Hidden Trap! Latest Market Analysis and Trading Suggestions

Ethereum current price is 1650, just about to break below 1600, resulting in a rebound, indicating that the market will never move exactly as everyone expects. Every pullback is an opportunity to adjust positions at higher points and resolve losses. At this moment, the risk far outweighs the opportunity, reducing holding pressure; stay out of the market, wait for a shorting opportunity at resistance levels or clear stabilization of support before considering long positions. In the crypto world, it's not about how much profit is made in a single trade, but about long-term stable risk control. Proper stop-loss and position management are essential for long-term survival in rising and falling markets.

The daily candlestick closed with a bearish line yesterday, all EMA averages pointing downward, and the price firmly below all moving averages, showing no sign of a rebound to the north. The MACD lines are in the negative zone, with the green bars continuously lengthening downward, indicating that the downward momentum has not weakened; Bollinger Bands are opening downward, with the price running along the lower band at 1539, and the midline at 1914 acting as a medium-term strong resistance. The Fibonacci 0.786 resistance at 2148 is far away. On the daily chart, there are no technical signals of bottoming or trend reversal, and the overall market maintains a weak downward trend.

The 4-hour candlestick shows a slight bullish correction after an oversold condition, but the rebound is weak and lacks strength. Short-term 15 and 30 EMA averages are horizontally pressing down the price, while the 60 and longer-term averages continue to decline, confirming a complete downward structure. MACD shows a tiny golden cross in the negative zone, with a small increase in the red bars, which is just a technical rebound after a sharp decline, not changing the overall downward trend. Bollinger Bands are widening downward, with the lower band at 1553 as a short-term key support, and the upper band at 1731 as the first resistance during a rebound. The Fibonacci 0.236 retracement level is right around 1730. The current price is still some distance from this resistance, so the 4-hour rebound space is limited. After encountering resistance, a further decline is highly probable.

Short-term reference:

- Upward from 1720 to 1750, stop-loss at 1800, target 1650 to 1550
- Downward from 1600 to 1550, stop-loss at 1500, target 1650 to 1720

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