#以太坊突破3700

7.21 Monday Market Overview: ETH is on an unstoppable rise

ETH is forming an ascending triangle, with both the top and bottom gradually rising, giving no opportunity to enter. Given the current situation of ETH, if you are afraid of chasing highs, it is better to wait for a chance to pull back to go long, or to trade within a range when the market is consolidating, which is the most stable.

ETH is currently hesitating around 3756; if it can't go higher, it will come down. Wait for ETH to pull back to the trend line and support around 3630 to enter long, with a stop loss at 3589, and targets at 3706 and 3751. Alternatively, you can enter long after breaking through 3756 with a golden 618, with a stop loss at 3695, and a target for a one-to-one take profit and around 3890.

Looking at the chart, there is also a bearish Safu pattern appearing, predicting a drop point D at 3428; we can choose to wait for ETH to break below the trend line and then short in the direction of the trend, targeting around 3550 and 3428. Conversely, at 3428, we can set up long positions, with a stop loss at 338, and targets at 3577 and 3672.

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