7.22 Ethereum Evening Analysis $ETH

This wave of ETH market is quite exciting! It dropped 200 points to 3616 in the morning, and in the afternoon, it rebounded to around 3690 and fluctuated. Now there are a few key points on the chart:

1. The pressure at the 3700 level is indeed significant, as it has failed to break through several times. The mid-level pressure on the 1-hour chart is around 3730; if it can break through strongly, it may reach 3800.

2. However, given the current volume and market sentiment, it is a bit difficult to surge directly in the short term. I suggest taking the opportunity to short during the rebound; the range of 3710-3740 is a good entry point.

3. The initial support is at 3650; if it breaks below, it may drop to around 3580. When placing trades, be sure to set a stop-loss, keeping it above 3750 for better safety.