6.18 Market Overview: ETH Trend Steady, Bearish Structure
Early this morning, the new SEC Chair Gary Gensler made his debut, clearly stating that there will be no interest rate cuts in June, keeping rates unchanged without releasing the dot plot. The timing and frequency of any potential cuts this year remain unknown.
ETH has been on a downward trend from its peak of 1848, with both highs and lows consistently decreasing, making shorting on highs the best strategy.
ETH is forming a descending triangle within a converging pattern. The support at 1713, along with the upper and lower trend lines, creates a three-point resonance, providing opportunities for both bulls and bears.
With ETH in a downtrend, it’s a bit tricky to catch shorting opportunities, especially without familiar ranges. In the current market, it’s best to stay on the sidelines and observe.
A MACD crossover occurred below the zero line, but the repeated attempts for a weak volume increase suggest a potential pullback upon touching the descending trend line.
Yesterday, ETH spot ETF saw a net outflow of 16,350 tokens, with significant outflows from both BlackRock and Grayscale.
If you’re passing by, please give a like and follow; your support means the world! This info is for market analysis only and not to be taken as trading advice; follow me to stay updated daily with the latest news, trends, and analysis, plus the wealth codes you’re looking for. Don’t forget to like and follow #美联储维持利率3.5%-3.75% $ETH
Early this morning, the new SEC Chair Gary Gensler made his debut, clearly stating that there will be no interest rate cuts in June, keeping rates unchanged without releasing the dot plot. The timing and frequency of any potential cuts this year remain unknown.
ETH has been on a downward trend from its peak of 1848, with both highs and lows consistently decreasing, making shorting on highs the best strategy.
ETH is forming a descending triangle within a converging pattern. The support at 1713, along with the upper and lower trend lines, creates a three-point resonance, providing opportunities for both bulls and bears.
With ETH in a downtrend, it’s a bit tricky to catch shorting opportunities, especially without familiar ranges. In the current market, it’s best to stay on the sidelines and observe.
A MACD crossover occurred below the zero line, but the repeated attempts for a weak volume increase suggest a potential pullback upon touching the descending trend line.
Yesterday, ETH spot ETF saw a net outflow of 16,350 tokens, with significant outflows from both BlackRock and Grayscale.
If you’re passing by, please give a like and follow; your support means the world! This info is for market analysis only and not to be taken as trading advice; follow me to stay updated daily with the latest news, trends, and analysis, plus the wealth codes you’re looking for. Don’t forget to like and follow #美联储维持利率3.5%-3.75% $ETH