Ethereum (ETH) Market Analysis Reference on July 31

The intraday trend of Ethereum is basically similar to the overall market, with a slightly larger drop. After multiple rebounds around the 3820 area failed to stabilize, the market experienced a strong pullback, touching a low near 3677. It is currently rebounding around the 3670 position. The intraday market is maintaining a range consolidation, and the support at the 3660 line has not been broken, so it is advised not to blindly short.

Looking at the short-term hourly chart, the price is under pressure entering the mid-lower track area, with the Bollinger Bands in a compressed state. The price pulled back to 3677 and made a slight rebound, which was expected. If it can break the short-term resistance at the 3800 line, there is a possibility for the price to challenge the intraday high. Conversely, if the short-term upward movement is blocked, further pullback support is expected. The current market leans towards a downward trend, so it is advisable for all coin friends to operate according to the trend. Key support below is focused on the 3660 line.

Short-term reference for Ethereum on July 31:

Short selling point: 3820-3870 short, stop loss 30, target 30-60 points,

Long buying point: 3700-3650 long, stop loss 30 points, target above 3750,

There may be delays in sending this article, and the strategy suggestions are for reference only. The market changes rapidly, and regardless of how accurate the market judgment may be, always set take profit and stop loss levels to secure gains. #以太坊十周年 #美联储利率决议 #币安HODLer空投TREE #BTC #ETH重返3800