7.21 Jack Erbing market outlook analysis

In the early stage, price moved higher steadily amid ongoing fluctuations. After pushing up to and impacting the 1953.64 peak, upward momentum gradually weakened. It then entered a range-bound phase, pulling back and advancing back and forth; the current price is 1927.93.
The moving-average support from the prior uptrend is now being tested. After repeated choppy oscillations at high levels, the bulls’ offensive strength has clearly declined. The 1923 area is an important short-term support level right now. If it can hold steady, there is still a chance to test the upper high points again. Once support is broken, the room for adjustment will open further.
At this stage, it is not advisable to rush into the market to trade and spar. During a high-level range-bound phase, the price action is prone to repeated swings, and blind trading can easily wear you down back and forth. Try to wait until the direction becomes clear before taking action. #以太坊