Market Waves: Ethereum (ETH) Market Analysis Reference for July 24:

The current price of Ethereum is 1888. The medium to long-term upward structure on the daily chart remains intact, but the bullish momentum has shown obvious signs of weakening. The MACD is in the bullish range, but the volume bars are continuously shrinking, and there is a persistent lack of incremental buying. The KDJ indicator has formed a downward turn at a high level, signaling a diverging drop. The price has tested the resistance at 1958 multiple times without achieving an effective breakthrough, and there is a continuous accumulation of selling at high levels, putting increasing pressure from above. The balance of power between bulls and bears is quietly shifting. Based on the chart pattern, the difficulty of continuing to push higher in the short term is significant, and the market is entering an adjustment window with an increasing possibility of a downward fluctuation. The first support below is locked in the 1840 range, and if this support is breached, the current correction will extend further.

On the short-term 4-hour chart, Ethereum saw a pullback after hitting the 1958 peak, forming a high-level oscillation pressure pattern, with the market gravity slowly shifting downward. After the MACD formed a death cross, it has continued to diverge downward. Although the bearish volume bars have not further expanded, the short-term bearish momentum is still being released. Currently, 1873 is an important short-term watershed. Even if the price temporarily holds this support, it will only produce a weak technical rebound; once the bears expand and break through this support position, it will accelerate the decline and trigger a deeper adjustment. Overall, the current market signals for bears are continuously accumulating, and the bullish attack is weak. Do not rush to bottom-fish in hopes of a reversal; the operation should focus on short positions from a high perspective.

Market Waves: Short-term Reference for Ethereum on July 24:

Short positions: 1940-1910 range short, stop loss 30 points, target 1880-1840,

Long positions: 1810-1840 range long, stop loss 30 points, target 1860-1910,

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