Li Shengting's Ethereum Midday Market Analysis and Trading Ideas on July 21
This morning, Ethereum broke through the 3820 line, then fell to the 3680 line. From the daily technical indicators, the KDJ indicator is still oscillating at a high value of 80, while the MACD indicator shows signs of decreasing bullish volume. Although the BOLL indicator is running in the upper band area, it has not continued to open upward. Currently, the five-day moving average still has a technical gap due to the violent increase, and the desire for the MA30-day moving average to rise has significantly weakened compared to previous days. The VOL indicator shows that trading volume continues to increase, but there is severe selling pressure above 3800. Based on experience and technical indicators, I personally feel that it is not advisable to chase long positions at high levels.
From the four-hour technical indicators, both the KDJ and MACD indicators show a gradual decrease in bullish volume. The BOLL indicator is running in the middle band area, but the coin price is closely following the upper middle band, indicating that the short-term rise is somewhat limited. The RSI indicator is also currently at a high level, and the MA5-day and MA10-day moving averages are in a state of oscillation and flattening. Considering both the daily and short-term analysis, I believe that the coin price is likely to undergo a technical pullback in the afternoon and evening.
Ethereum: Short in batches around the 3800-3835 area Stop Loss: 3913 Target: 3700-3660
Bitcoin: Short in batches around the 119000-119500 area Stop Loss: 121000 Target: 117000
The above is my personal analysis for the afternoon market, for reference only. Specific points should be based on real-time guidance $ETH
