7.23 Cryptocurrency Mr. Coin: Ethereum (ETH) Market Analysis Reference

The intraday market experienced a surge in the morning followed by a pullback, reaching up to the resistance near 3800 but did not break through, subsequently resulting in a pullback. The current price is around 3680, and the intraday pullback has touched the support at 3610. If the price does not fall below 3600, it is advised not to blindly enter short positions.

From the short-term 4-hour chart, the trend is in a pullback rhythm. Since July 15, the mid-track support has been broken, and the strength of the short-term rebound has weakened. If the price does not break above and stabilize at 3700, there is a risk of further pullback support.

Currently, the trend continues to oscillate downward, so our approach remains to primarily short on rebounds while using long positions as a supplementary strategy. The intraday trend has repeatedly attempted to test upward but has failed, and the market has entered a range of oscillation without any signs of breaking out. Therefore, our strategy is to short high and long low. The upper resistance is focused around 2750, while the lower support is around 3580.

7.23 Ethereum Short-term Reference:

Lower test entry point: 3750-3780, stop loss 30, target 30-60 points,

Upper test entry point: 3580-3635, stop loss 30 points, target above 3670,

The article may be delayed in sending, and the strategy suggestions are for reference only. The market changes rapidly; regardless of how confident one is in market judgment, it is essential to manage take profit and stop loss properly to secure gains. #ETH #BTC #ETH🔥🔥🔥🔥🔥🔥 #以太坊突破3700 #加密立法新纪元