7.22 Afternoon Analysis

The afternoon continued to fluctuate downwards, breaking below 3700 in the morning and hitting a low around 3650; the major cryptocurrency briefly broke 1160 before quickly rebounding, but the pressure from the MA7 and MA10 moving averages on the daily chart remains, failing to recover smoothly, indicating significant resistance for short-term rebounds.

On the surface, the bulls seem to be holding, but in reality, the daily chart has already broken below yesterday's low, and bearish signals are gradually being released. 3750 is a key level; if it doesn't break soon, the bulls are likely to weaken.

Trading Strategy: Attempt to short in the 3710 - 3740 range, with an initial target of 3630, and if broken, look at around 3580.

If the rebound doesn't hold, the short position needs to be re-established. Maintain the rhythm, and don't let false bullish signals disturb the strategy. $ETH #山寨季來了？ #以太坊突破3700