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June 16th $ETH Market Analysis: The idea for Ethereum is somewhat similar to Bitcoin.
First, on the 15-minute chart, it’s hard to see a continuous upward trend until the trendline here is broken.
After the breakout, resistance is at 1810. Once 1810 is successfully broken, Ethereum turns stronger.
Look for higher resistance levels at 1950 and 1980 to bet on short positions.
On the hourly chart, at 1695 and 1675, look for support and rebounds.
These are also the upper boundaries of the previous consolidation range.
Theoretically, once the price reaches these levels again, shorting should not be pursued; it’s more appropriate to look for a rebound.
Therefore, in terms of long and short ideas, look for rebounds at 1695 and 1675, small corrections at 1810, and consider short positions at higher levels like 1950 and 1980.