7.22 ETH Afternoon Market Outlook
Current price is around 3694.53, with bears dominating the pullback. In the afternoon, focus on key support for potential trading opportunities.
After rebounding from a low of 3531.55, the price encountered resistance, MA7 has turned downwards, and mid-term bullish momentum is weakening; the previous high of 3857.82 presents significant resistance. If the decline continues, be cautious of a drop towards the lower Bollinger Band support.
The Bollinger Bands are opening downwards, the price has broken below the middle band, MA7 and MA30 have formed a death cross, and MACD green bars continue; bearish strength is dominant, looking down at the lower Bollinger Band support at 3666.44 and watching the upper band resistance at 3849.50.
Suggestion to enter at 3720 - 3740, target 3670 - 3660, stop loss above 3750.
Enter at 3670 - 3680, target 3700 - 3720, stop loss below 3650.
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