6.16-Morning Update 🍪｜Yin Jun V
Last night, the altcoin surged past 1800 with volume, instinctively probing up to 1849 before facing strong resistance at 1850, where the bulls ran out of steam. It then slid down to 1780, currently consolidating with reduced volume. The Bollinger Bands are tightening and flattening, indicating a potential shift in trend. The MACD bearish momentum bars have hit zero, with the fast and slow lines converging, showing that downward momentum is weakening. Today, keep an eye on the validity of the 1780 support.
Trading Suggestion: For short-term trades, look for a bullish move with targets at 1830-1850 for a breakout; if it breaks through, aim for 1880. However, if it can't push past the top, watch for a potential pullback target at 1745-1720.
#Ethereum $ETH
Last night, the altcoin surged past 1800 with volume, instinctively probing up to 1849 before facing strong resistance at 1850, where the bulls ran out of steam. It then slid down to 1780, currently consolidating with reduced volume. The Bollinger Bands are tightening and flattening, indicating a potential shift in trend. The MACD bearish momentum bars have hit zero, with the fast and slow lines converging, showing that downward momentum is weakening. Today, keep an eye on the validity of the 1780 support.
Trading Suggestion: For short-term trades, look for a bullish move with targets at 1830-1850 for a breakout; if it breaks through, aim for 1880. However, if it can't push past the top, watch for a potential pullback target at 1745-1720.
#Ethereum $ETH