Li Shengting 7.20 Ethereum Evening Market Analysis and Trading Ideas
Ethereum's daily upward momentum continues to remain strong this week. From the daily technical indicators, the KDJ indicator is running at a high level, and the oversold area is constantly moving upwards. Currently, this somewhat contradicts the trend of the technical indicators. The MACD indicator is in a strong bullish state with significant volume, and although the BOLL indicator is continuously rising, compared to the previous days, there are signs of weakening. At the same time, all three-day moving averages are arranged in a bullish pattern, but this round of upward trend has not repaired the technical gap created by the five-day moving average. Currently, the upward amplitude is quite strong, but it is important to note that Ethereum and Bitcoin are currently standing firm on the green TD9 signal, and Bitcoin next door has already begun to decline for correction, while Ethereum is lagging seriously. Personally, I believe that Ethereum's current unilateral upward situation is very strong, and the accompanying pullback force will definitely be greater, so it is necessary to pay attention to the return for profit-taking.
From the 4-hour technical indicators, the KDJ indicator is in a bullish contraction state. Meanwhile, tonight, the short-term coin price touched around 3769 and faced pressure to fall back. Currently, there is some selling pressure in the short term above, but the trading volume (VOL) is still relatively strong. Currently, the short-term MACD and BOLL indicators continue to resonate upward strongly. Although Ethereum is currently holding the green TD9 upward signal, it is still necessary to be cautious about the risks of chasing high positions. Personally, I believe that the coin price will undergo a new round of technical retracement in the early morning and morning hours.
Ethereum: Short-sell near 3740-3755 Stop-loss: 3787 Target: 3660
Bitcoin: Short-sell near 118000-118800 Stop-loss: 119500 Target: 116500-115000
The above is my personal evening market analysis and trading ideas. Specific points and directional changes should be guided by real-time advice $ETH