7.22 Coin Circle Mr. Coin: Ethereum (ETH) market analysis reference:
The previous article also mentioned that the short position at 3530 was held for two days. In the early morning, there was also an opportunity to pocket nearly 100 points of profit near 3440. Ethereum’s long position yesterday did not reach the target point, so there was no entry in this rebound. Ethereum also retraced to the support near 3500 near noon. The current price is running near 3490. The upper space was further broken during the day, but the trend did not break through the 3580 line, so we waited for a correction or a break before entering the long position. Looking at the short-term hourly chart, each moving average maintains an upward posture, and the short-term price has a trend of stabilizing at the 3500 line. It is expected that it will continue in the future, so Mr. Coin recommends going long. Pay attention to the support below around 3400-3420.
Short-term reference:
Short orders can be lightly shorted in the 3540-3560 range, stop loss 40 points, target 3400-3420
Focus on the 3400-3420 range below, target around 3450.
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