【July 18 Evening Market Analysis】
Ethereum (ETH): Breaking through key resistance levels, short-term bullish sentiment continues to ferment
Current price range: $3580-$3620
1. Market Review
Ethereum continued its strong upward trend today, maintaining high-level fluctuations in the evening after a nearly 12% surge yesterday, with the price successfully stabilizing around $3600. Looking at the chart, bullish sentiment dominates with increased trading volume, and short-term capital continues to flow in.
2. Technical Analysis
Trend Structure: Daily chart shows consecutive breakouts, standing above MA60, MA120, and other medium to long-term moving averages, with clear technical bull market signals.
Key Support Level: $3500 (previous breakout platform)
Short-term Resistance Level: $3700-$3750 range (near last year's high)
Indicator Observation: MACD continues to rise with increasing volume, RSI appears slightly overbought, and short-term pullback demand cannot be ruled out, but the overall trend remains strong.
3. Catalysts from News
BlackRock's ETF allocation to ETH has reached over five times that of BTC;
The LSD sector is heating up again, with related tokens like LDO and RPL rising in tandem, enhancing the interconnected effect of the Ethereum ecosystem;
Funds are flowing back into the Ethereum ecosystem, with increased activity across multiple sectors such as DeFi, infrastructure, and DEX.
4. Trading Suggestions
Short-term: It is not recommended to blindly chase high prices; wait for confirmation of support in the $3500-$3550 region;
Mid-term: Ethereum has broken through an important structure, confirming the trend; it is advisable to gradually increase positions, targeting $3800-$4000;
Focus on sector interconnections: Ethereum ecosystem tokens such as LDO, UNI, MKR, LINK may continue to benefit, and opportunities to accumulate at lower levels should be considered.
