7.21 Morning Ethereum Market Analysis and Trading Suggestions$ETH

Market Review

The recent trend of Ethereum has been quite unusual, as it was originally expected to fluctuate within a range over the weekend. Saturday basically met expectations, maintaining range fluctuations; however, on Sunday, there was a one-sided upward movement, briefly breaking through the **3800** key resistance level, forming a short-term divergence. Nevertheless, the market was unable to stabilize and quickly fell back. **Just during the analysis period, ETH experienced a sharp drop, falling below 3600, reaching a low of around 3680, and then quickly rebounded**, indicating intense market competition between bulls and bears.

Technical Analysis

1-Hour Level

- K-Line Trend: Short-term waterfall decline has broken below the middle Bollinger Band, with the current price fluctuating near the middle band.

- MACD: Continuous increase in volume, indicating that short-term momentum is still strengthening, and attention should be paid to whether a new directional signal will form.

4-Hour Level

- K-Line Trend: The price has fallen below the upper band, indicating that bullish strength has weakened.

- Key Resistance: Around 3785 forms short-term resistance; if it cannot break through, a further pullback may occur.

Trading Suggestions

1. Short Selling Opportunities (if rebounding to the resistance area):

- Entry Range: Around 3740~3770

- Target Price: 3680 (first support), 3600 (second support)

- Stop Loss Suggestion: If the price breaks through 3785, caution is needed to prevent short positions from being trapped.

- If ETH breaks through the 3785 resistance level again, the short-term bearish trend may be disrupted, so be cautious of further rebounds to avoid blind trading.