Li Shengting: Ethereum Midday Market Analysis and Trading Ideas on July 24
Ethereum has been in a sideways consolidation phase for the past two days. From the perspective of daily technical indicators, the TD13 technical indicator has not been repaired, the KDJ technical indicator is in a high position with a death cross, and the strength of the five-day moving average compared to yesterday’s rise has significantly weakened. Meanwhile, the MACD technical indicator shows signs of a downturn at a high level, with the DIF and DEA technical indicators moving downward. In the early morning, Ethereum also showed signs of bearish volume, and currently, Ethereum has stabilized below the red TD1 downward signal, so we still expect a downward trend within the day.
From the 4-hour technical indicators, the current KDJ technical indicator shows a high-level death cross and a strong desire to decline. The MACD technical indicator shows the DIF and DEA indicators moving downward. The short-term BOLL technical indicator operates below the middle band and continues to be constrained by the MA30-day moving average. The MA three-day moving averages are arranged in a bearish formation and are declining. From the current short-term and daily levels, the short-term bearish volume has not completely ended, so today the price of the coin is likely to continue to maintain a sideways downward trend.
Ethereum: Short in batches around 3565-3595; Stop Loss: 3664; Target: 3500-3460
Bitcoin: Short in batches around 117800-118500; Stop Loss: 119500; Target: 116000-115000
The above is my personal midday market analysis; real-time entry points and direction changes are subject to real-time guidance $ETH