ETH Past Performance Review (From July 17 Afternoon to July 18 Afternoon):
Consolidation Phase: In the first half of the chart (before the night of July 17), the price largely hovered around 3400 with no significant fluctuations.
Start of Uptrend: Starting from the early hours of July 18, ETH clearly began its upward momentum, with the price rising from around 3400 to over 3600.
Strong Breakthrough: During the rise, a significant number of yellow and green liquidation zones appeared on the chart, indicating that many short positions were forcibly liquidated, and the stronger the market rises, the stronger the bullish sentiment.
Current Position: ETH has stabilized between 3600 and 3700, and the trend remains strong.
What could happen next?
Short-term adjustment pressure
The current rise has been rapid, and in the short term, there may be consolidation around 3700 or even a slight pullback, but it’s not a reversal to bearish; it’s just a healthy adjustment.
Key Support Zone at 3500-3600
If it drops, around 3500 is a dense liquidation area (yellow zone is prominent), which could serve as support.
As long as it doesn’t drop below 3500, there’s still a chance to push higher.
If the price continues to hold above 3600 and breaks out with volume above 3700, it could aim for 3800 or even higher.
In the past 24 hours, ETH has emerged from a period of sideways consolidation with a strong upward movement.
The battle between bulls and bears is intense, with short sellers being continuously liquidated, indicating that market sentiment is bullish.
In the short term, there may be a slight pullback, but the overall direction remains upward.
If you are a beginner, it is not recommended to chase high prices now; be patient and wait for a pullback, such as returning to 3500-3600, and then consider entering in batches.
