7.14 $ETH Midday Analysis

In recent times, overall risk appetite in the crypto market has continued to cool. Bitcoin’s sustained weakness has dragged down the sentiment across the altcoin market, and on top of that, institutional funds have made a small withdrawal from the crypto sector. After ETH surged to 1848, a phase high point, the previously accumulated long profit-taking positions were concentrated and exited, and the market simultaneously moved into a pullback channel.
At present, the quoted price is 1780.75, up only 0.01% during the day. The market overall remains in low-level, narrow-range consolidation and recovery. In the past 4 hours, the market’s price action range has had a high of 1793.90 and a low of 1748.00. On the capital side, net outflows of $65.65 million were recorded, and the phase trading volume was 6.760 billion. After the sharp drop, the follow-through strength of low-level buy orders is weak. During the rebound phase, there is a lack of incremental capital to drive prices up. The market has been fully tracking the broader market’s weakness and has not yet formed an independent strong momentum structure. One and only personal suggestion: around 1793-1830, pull back; targets around 1761-1720 #BTC #ETH #BTC走势分析