7.14 Morning Ethereum Chenye Analysis

Current market conditions are only a weak rebound after being oversold, lacking substantial buy-side support. From the 1-hour timeframe, the Bollinger Bands overall show a downward-opening trend, and rebound momentum is clearly insufficient. The 1790–1810 range overhead faces strong resistance from the upper band; this is a good opportunity to place short orders in line with the trend. The first priority is to look for a pullback toward the middle band. What to be wary of is that 1748 below is a key defense line—once it breaks down effectively, a new round of downside move will be triggered again.
Morning trading suggestions: Focus on short signals in the 1770–1790 range; for the support zone below, pay attention to 1700–1730. #伊朗宣布关闭霍尔木兹海峡