7.19 Evening Analysis

Yesterday, after facing pressure near 3674.43, a pullback occurred, and the current price is consolidating around 3558.88, with bullish momentum weakening.

The rebound yesterday was not effectively stabilized due to insufficient buying follow-through. The current price is experiencing a retracement and is testing the support below. If the price cannot break through yesterday's high of 3674.43 in the following period, it is likely to continue the oscillating pattern in the short term. From the moving average system perspective, MA7 and MA30 still maintain a bullish arrangement, but the divergence between price and moving averages has narrowed, indicating that bullish strength is somewhat contracting in the short term.

The Bollinger Bands are showing a narrowing state, with the price running in the middle to lower band area. This indicates that market volatility is gradually shrinking, and both bulls and bears are in a stalemate in the short term. At the same time, the MACD indicator has formed a death cross above the zero line, and the green momentum bars are gradually increasing, suggesting that bearish strength slightly dominates in the short term.

It is recommended to enter the market in the 3530 - 3550 range, targeting a price of 3600, with a stop loss at 3500 points. If the price successfully breaks through 3600, the further target can be set at 3650.

It is recommended to enter in the 3620 - 3640 range, targeting a price of 3550, with a stop loss set at 3670 points. $ETH