7.29 Ethereum (ETH) market analysis reference

Although Ethereum's trend continues to rise, it has not stabilized around the 3900 level. After reaching a new high, the price has also retraced, touching a low of around 3750 in the early morning, completely giving back yesterday's gains. Therefore, it is not advisable to blindly chase long positions during the day, as there is a risk of the price being pressured to fall again.

On the 4-hour chart of the short cycle, the Bollinger Bands show a gradually tightening posture, with the price running in the support area of the middle band. The price has temporarily eased the decline near the middle band support. The short-term daily trend is relatively weak. If the rebound does not stabilize above 3800, and once the short-term support at 3750 is broken, there is a possibility for the short-term trend to continue testing downward. I hope everyone is prepared in advance. The short-term trend remains in a range of consolidation, so our strategy is to sell high and buy low. Pay attention to the range of 3680-3920.

7.29 Ethereum short-term reference:

Short position entry: Short above 3920, stop loss 30, target 30-60 points,

Buy more below the 3700 testing point, stop loss at 30 points, target above 3750.

There is a delay in sending the article, and the strategy suggestions are for reference only. Market conditions change rapidly, and no matter how confident you are in your market judgments, you must always set stop-loss and take-profit orders to secure your profits.

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