Currency Circle Li Ying: Latest Market Analysis and Operational Suggestions for 6.9 Ethereum (ETH)
Family, the current price of Ethereum is 1695, and we need to clarify this trend! Previously, it dropped from above 2000 to around 1503, and now it has rebounded to 1692. It looks like a recovery, but don’t rush in. The short-term moving averages EMA7 and EMA30 have turned upward, indicating that short-term funds are bottom fishing; however, the long-term moving average EMA120 is still pressing down, meaning the big trend hasn’t fully reversed. The MACD red bars are narrowing but haven’t crossed, and the middle band of the Bollinger Bands is also supporting the price, so now is a critical point where the rebound faces resistance—chasing highs might get you trapped, waiting for a pullback to confirm support before entering is more stable!
Detailed analysis of technical indicators: In terms of EMA, EMA7 and EMA30 form a bullish arrangement, and the short-term momentum is relatively strong, but EMA120 acts like a mountain pressing down, making it difficult for significant movements before breaking through; the MACD’s DIF is above the DEA, and although the red bars are shrinking, they are still positive, indicating that the upward momentum is still there, just weakening; the middle band of the Bollinger Bands at 1644 is the core support, the upper band at 1711 is a resistance level, and the price is running above the middle band, indicating a mildly bullish oscillation area. As long as it does not break the middle band, the rebound logic holds.
Short-term reference:
Position at 1665-1600, exit below 1560, target 1700 aiming for above 1750
Position at 1700-1730, exit above 1760, target 1650 aiming for below 1600
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