6.18 ETH Analysis

Currently, ETH is trading around 1741, with the price continuously constrained by the B midline at 1765, maintaining a bearish correction pattern. Early in the morning, it dipped to 1724, slightly breaking below the lower band at 1728 but quickly recovered, forming an effective piercing pattern, indicating short-term buying interest around 1725. However, the rebound momentum is clearly insufficient, and the downward slope of the midline has not eased, indicating the bearish trend remains unchanged.

The moving average system is in a bearish alignment. If the rebound cannot volume-wise recover the 1 midline, it is considered a weak rebound. The key resistance above is at the 1800 round number and the overlapping resistance of the upper band. Close attention should be paid to the validity of the 1725 support, which is the intraday dividing line between bulls and bears. Once a volume breakout occurs below this level, it will open the downside space, with a drop to 1700 being highly probable. Regarding candlestick patterns, the recovery strength after the pin bar at the lower band remains a focus for intraday observation. If the second test of 1725 does not break, it can be seen as a short-term stabilization signal.

Trading suggestion: Range between 1770-1800, target 1700-160.

The above strategy is for reference only. The market changes rapidly; please combine real-time market conditions for judgment, and manage positions and risks accordingly.
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