7.20 Evening ETH Market Analysis
The price is running around 3750.45, with an initial bullish trend but caution is needed for volatility.
From the trend, the price has continuously rebounded from a low of 3233.58. Although there have been pullbacks, the overall direction is upward. MA7 and MA30 are in a bullish arrangement, and the medium-term upward momentum is accumulating. However, there may be selling pressure near the previous high.
The Bollinger Bands are opening upwards, with the price climbing near the upper band. MA7 and MA30 are rising simultaneously, with bulls dominating in the short term; however, it is approaching the previous high pressure at 3770, so attention should be paid to whether the momentum can be sustained.
It is recommended to buy in the range of 3720 - 3730, aiming for a target of 3780 - 3800, with a stop loss set below 3700.
It is recommended to sell in the range of 3770 - 3780, targeting 3730 - 3720, with a stop loss set above 3800.
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