Crypto Waves: July 17 Ethereum (ETH) Market Analysis Reference:

The current price of Ethereum is 1870. The daily cycle is overall within the upward channel of the Bollinger Bands. After the price relied on short-term moving average support, it surged to a high point of 1946 and then faced pressure, retreating to close in the red. Although the MACD remains in the bullish zone, the volume bars are shrinking, and the KDJ indicator is turning downward, clearly showing a weakening bullish momentum. The pressure at the upper high point is strong, short-term profit-taking needs to be digested, and there is potential for further downward adjustment. Before the market recovers the previous high, the risk of chasing highs at elevated positions is higher, and caution is needed regarding a sustained downward trend.

In the short-term 4-hour level, the coin price has entered a phase of volatility and retreat after reaching a high. The price is gradually retreating from the upper track of the Bollinger Bands. The MACD double line has formed a death cross and is diverging downward, with the histogram turning negative and expanding. Bullish volume is continuously shrinking, and the KDJ indicator has formed a death cross and is diverging downward, with short-term bearish strength slightly increasing. Currently, the market is still in the adjustment phase after this round of increase, focusing on the support zone of the Bollinger middle track and the dense moving averages. If the support level holds effectively, the market is likely to maintain a range-bound volatility; once the support fails, it will trigger a deeper retracement. At this stage, it is a priority to guard against downward volatility risks and to wait for confirmation of support effectiveness before considering positioning.

Crypto Waves: July 17 Ethereum Short-term Reference:

Short Position: Sell in the 1935-1900 range, stop loss above 1965, target at 1870-1820,

Long Position: Buy in the 1805-1835 range, protect below 1760, target at 1850-1900,

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