7.20 $ETH Midday Analysis


Key levels on the Bollinger channel: Middle band 1853.95, Upper band 1883.17, Lower band 1824.72
The price previously pulled back sharply and touched the Bollinger lower band to complete bottom confirmation. It then consolidated and moved upward, holding above the Bollinger middle band. The former resistance level has turned into a short-term core support. As the Bollinger band channel gradually leveled off after narrowing downward, the downward momentum stopped and the market moved into a repair phase. The current price is trading just below the Bollinger upper band; the 1883.17 area is forming a short-term strong suppression zone. Only if the market breaks through the upper band with increased volume can it open additional room for a further rebound. Yi Fan’s personal suggestion: chop/hold around 1825-1780, with targets around 1890-1980. A volume breakout will break above 2000 #BTC #ETH #BTC走势分析
ETH2.21%
BTC2.64%
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StableSpread
· 07-20 06:48
Although the Bollinger Bands moving sideways does indeed indicate that bearish momentum is weakening, if the resistance level at 1883 is not broken, it’s still best to be cautious about chasing longs—waiting for confirmation of a breakout before getting on is safer.
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