7.14 Cryptocurrency Mr. Coin: Ethereum (ETH) Market Analysis Reference

Yesterday, Ethereum was still touching the middle band of the Bollinger Bands on the 4-hour chart, testing the high point of 1846. The bullish oscillation structure was intact. At that time, I reminded everyone that there was significant pressure above, so do not blindly chase longs, and be wary of the correlation with BTC pullbacks. Now, with Bitcoin weakening, Ethereum has plummeted significantly, currently trading around 1755, with a maximum retracement of nearly 90 points. Even with a slight net inflow of 191 million, it cannot withstand the concentrated short selling pressure,

The 4-hour level has directly and substantially broken below the middle band of the Bollinger Bands, with RSI, MACD, and KDJ all falling into the weak oversold range. The mid-term trend has turned weak, and the 1-hour Bollinger channel has opened downwards, continuously showing bearish decline and creating a stage low. The current slight rebound is merely a weak recovery after an oversell, and is not a reversal signal. Resistance above is expected at 1780-1800, with short-term support at 1730 and key mid-term support at 1712. In terms of operation, small positions can be tried in the rebound; for bottom hunting, wait for the 1-hour chart to show consecutive bullish candles confirming a stop and holding above 1712 support before participating with small positions.The above is only a technical share of the market, not constituting any investment advice.Follow Mr. Coin for real-time market analysis.

7.14 Short-Term Reference for Ethereum:

Go short above 1825, with a stop at 1880, targeting below 1780,

Go long below 1730, with a stop loss of 50 points, targeting above 1760,

Messages may be delayed; strategy suggestions are for reference only. The market is ever-changing. No matter how confident you are in the market judgment, remember to manage take profits and stop losses, securing gains.

For more real-time strategies, online technical learning, or dealing with positions, you can follow the instructor's official account (Mr. Coin Talks Coin) for details on how to add: the first ten each day can receive free strategy suggestions for managing positions.

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