7.13 ETH Analysis



After the price surged to the 1846 peak, it formed a long upper-wick shooting star top pattern. Bull power shows marginal exhaustion. After being rejected at the upper Bollinger Band, it turned and fell. The body candlesticks continuously broke below the Bollinger middle band at 1810, the key long/short watershed line. The Bollinger bands shifted from a converging, ranging phase to a downward widening pattern, confirming that the downward running channel has taken shape.

In the short term, the RSI6 indicator has entered the low oversold zone. Any subsequent movement will only be a deviation-reversion type corrective rebound, which is a passive technical bounce rather than a trend reversal point. The middle-band moving average overhead will act as dynamic heavy resistance. A rebound that touches this zone will be the critical trigger for the bears’ second add-on. The stepped-down candlestick arrangement suggests that the downward momentum will continue—do not misjudge a corrective move as a bottom formation.

Trading suggestion: 1810-1840🈳, target 1750-1700.$BTC $GT $ETH
BTC-1.88%
GT-0.15%
ETH-1.27%
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