7.7 Tuesday ETH Morning Thoughts


Overnight, the surge in the Nasdaq drove a recovery in market risk appetite. Ethereum followed the broader market with a rebound and repair, but its trend remains weaker than Bitcoin, representing a passive rally rather than being driven by its own independent bullish catalyst.

The short-term strong resistance above is at $1830-$1833, which is a dual heavy pressure from the previous high and the upper Bollinger Band. Multiple attempts have failed to break through with volume. The short-term core support is at $1730-$1750, with $1700 serving as the key dividing line for the strength of this rebound. If it breaks below, the short-term bullish momentum will weaken, and the next target is around $1680. On the 4-hour chart, the MACD red bars continue to narrow, and the price is approaching the overbought zone, indicating a need for a pullback and repair.

Trading suggestion: Short at $1805-$1820, target $1765, and if broken, see $1730.$BTC $ETH $SOL
BTC2.81%
ETH2.55%
SOL2.68%
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MayTheLordBlessYouToEarn
· 7h ago
How do you say gold?
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