7.10 ETH Analysis

In the one-hour cycle structure, after the price formed a first buy low at 1713, it launched a rapid surge out of the secondary-level departure segment. It broke upward through the Bollinger upper band, forming an early divergence pattern. After pushing to 1779, the bullish force clearly began to fade. This is a secondary rebound following a downward consolidation center, not a high-level reversal trend. The previously broken Bollinger upper band has already been converted into a resistance anchor. The Bollinger middle band at 1749 is the long-short lifeline of the current level’s stroke structure. Once it effectively breaks down, it will trigger a downward pullback to the Bollinger lower band at 1732 to confirm a second buy.

The short-term RSI shows high-level dulling. With the 6-period indicator value at 84.47 reaching the extreme range, the bullish momentum has already been fully exhausted. Conditions for forming a top fractal are gradually becoming mature. This round of upward movement is only a pulse rebound brought by short covering. Profit-taking positions at high levels are continuously accumulating. In terms of trading, abandon the idea of chasing longs. Instead, use the divergence high point under pressure to build short positions. First, observe whether the middle-band support holds or fails. After a breakdown, follow the trend to continue holding short positions, and ensure position risk management to avoid the risk of abnormal wick spikes.

Trading suggestion: Short at 1800-1830, target 1730-1630.$BTC $GT $SOL