7.20 Jack’s morning market analysis and strategy (2 cakes)

After Ethereum surged to the 1891.2 level early in the morning and then came under pressure and pulled back, today’s market has extremely small fluctuations—its full-day range is only 0.18%. The current price is hovering around the 1870 mark. Although the short-term moving averages are still pointing upward, the lack of buying strength after the spike is evident. On the order book, a lot of sell pressure has piled up above. The bid-ask spread ratio is slightly negative, and for longs, breaking upward through resistance is relatively difficult. The 1890 high is clearly suppressing price. Once the bulls can’t hold their ground, the market shifts into high-level consolidation. There is unlikely to be a one-direction upside move in the short term, and the 1860-1880 range will keep tugging back and forth. Don’t chase longs on the short term; focus on whether the 1860 support remains effective. If support breaks, a deeper correction will follow.

Trading suggestion: range trading
Trading range: 1895-1910
Stop-loss defense: 1920
Ziying in tiers:
第1️⃣ Ziying: 1840
第2️⃣ Ziying: 1830 #Blockchain #ETH站稳1900美元