Cryptocurrency Academic: On July 26, Ethereum bears are "sharpening their knives," and once it falls below the "bottomless pit"! Latest market analysis and reference suggestions
Ethereum's current price is 3630, and it is currently 1:30 AM Beijing time. Ethereum is facing resistance at the 0.786 Fibonacci retracement level, with support at 3525. After multiple daily dips, it has retraced, resulting in a converging triangle trend in the market. However, various indicators are stretched unchanged, with both resistance levels and support levels rising concurrently. As long as the main force continues to dip and does not break below 3500, there is a high probability of further stretching.
Before the publication of the daily candlestick chart, the highest was 3746, and the lowest was 3570. The EMA15 trend line has reached 3430, with the next target being 3500. The MACD shows a bearish divergence with increased volume, and both the DIF and DEA are contracting at high levels. This significant downward pressure indicates that the main force is unloading. After speculative funds take over at high levels, they may find it difficult to exit. The upper Bollinger Band has reached 4080, and the middle band support has stretched to 3235, indicating that both the retracement and the stretching space for the candlestick chart are relatively large.
The four-hour candlestick chart has reached the middle of the triangle, with the strategy being to move north around 3535 and south near 3700, which is a common operation. The MACD has shown continuous top divergence for a long time, and the DIF and DEA have eventually reached the 0-axis. They could break below at any time. If the main force dips and breaks below 3500 here, it may fall into the 0-axis and enter a bearish trend. The Bollinger Bands are contracting and consolidating, with the lower band support at 3565 and the upper band resistance at 3765, which can serve as stop-loss points. Overall, the short-term trend appears to be bearish, so it is advisable to be cautious about going long for now.
Short-term reference: Safety first. Remember that the market is not 100% certain, so always use stop-loss measures. Safety first, minimizing losses while maximizing profits is the goal.
For a southward trial position, the entry point is between 3690 and 3735, with a defense at 3770, a stop-loss of 50 points, and a target looking at 3640 to 3600. If it breaks, look at 3550 to 3500.
For a northward trial position, the entry point is between 3570 and 3530, with a defense at 3490, a stop-loss of 50 points, and a target looking at 3600 to 3650. If it breaks, look at 3700 to 3785.
Specific operations should be based on real-time market data. For more detailed information, you can contact the author. There may be a delay in article publication, and suggestions are for reference only. Risks are to be borne by the reader. $ETH
