7.2 Market Analysis

Ethereum started a complete rebound wave from around 1565, with funds continuously entering after testing support below 1600 twice, then surging again to hit the phase high of 1645.87. The price has stabilized above the moving averages, the short-term bullish structure is intact, and the moving averages continue to provide strong support.
Key resistance and support: The first resistance above is the previous high of 1645.87. Only a breakout with volume can open up new upside space, targeting above 1660; the short-term moving average support below is 1620, and the core strong support is 1600. 1600 is the watershed for this double-bottom reversal. As long as it does not break below 1600, the bullish trend will not be damaged. In terms of operation, it is not recommended to chase long positions heavily at highs. The non-farm payroll data at 20:30 tonight is approaching, which will amplify market volatility. It is advised to enter cautiously and wait for the data to be released and a clear trend to emerge before adding positions.
Operation suggestions: Look for a pullback at 1650-1660 above, and support at 1610-1600 below. Continued rebounds favor the bulls, so go long at lows and hold continuously. Bitcoin can be synchronized.
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