7.7 Midday Big Cake/ETH Market Analysis - Shiyuan’s Opinion


The Big Cake and ETH are moving in sync. After smashing out a low point in the middle of the night, they surged sharply upward. Once the long side had made enough profit, they all ran away, and it then dropped sharply. Now it’s caught in the middle, oscillating back and forth, with no strength in the short term to make fresh highs.

**Big Cake:**
Lowest 61297, highest 64692, now 63087
Resistance overhead: 63800 to 64200 is pressing down and hard to break through. Support below: first watch 62600; if it can’t hold, then look at 62200.
Don’t chase the move. If price rebounds upward and meets resistance, then go ahead and go short. Only after it drops to the right level and stabilizes should you take a small amount of positions.

**ETH:**
Lowest 1728, highest 1833, now 1769
1785 to 1795 is strong resistance. Below, first hold 1760; if it breaks, directly look at 1748.
Overall, the market is relatively weak. Prioritize short setups on rebounds. Only if it can hold above 1795 will there be another chance for a further push. $ETH $BTC
ETH-1.98%
BTC-1.21%
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