Cryptocurrency Expert: Ethereum peaked and fell back on 7.29, beware of the collapse of the 'castle in the air'! Latest market analysis and reference suggestions
Current price of Ethereum is 3785, the trend is bullish, but it is highly likely driven by the sentiment of Ethereum's tenth anniversary celebration. The lack of volume in the main stretch already indicates a problem; otherwise, I wouldn't have been reminding everyone not to chase the rise these past few days. No matter how eager you are to trade, consider trying to test the waters to the south instead of heading north, as there's a high probability of hitting the ceiling. At this point, chasing the rise poses a greater risk than reward. Our primary consideration in trading is survival; stay alive and don't panic when the market arrives.
Before the publication, the daily K-line reached a high of 3940 and a low of 3770. The EMA trend indicator is still showing an overall bullish trend upwards. The EMA15 trend line has already reached 3560, providing support for a pullback. The MACD's top divergence has decreased in volume, and DIF and DEA are contracting at high levels. The Bollinger Bands' upward stretch has slowed down, maintaining around 4140, while the lower band has broken 3400. Overall, the daily trend is starting to show a contraction. Even if the main force does not trigger a major bearish market, the space for horizontal trading at high levels is around 200 points. It may be worth considering testing the waters to the south after the next wave of highs.
The four-hour K-line has fallen back over 150 points. After the K-line broke below the EMA15, it began to test the lower EMA30 support point of 3760. It's crucial to see if this wave can maintain 3780 within the Bollinger Bands; if it cannot, it will continue to dive. Pay attention to the trend convergence points of the first support zone at 3635 and 3655. The MACD's volume has ended and is starting to shrink, with DIF and DEA entering a dead cross threshold. If the middle of the Bollinger Bands is lost, a dead cross will form, indicating a short-term technical bearish trend. If it does not lose support, look for an opportunity to test the waters to the south after breaking the previous high.
Short-term reference: Safety first. Remember, the market is never 100% certain, so always set proper stop-losses. The goal is to minimize small losses while maximizing gains.
Test the waters to the south at points between 3900 and 3950, with a defense at 4000, stop-loss at 50 points, and target between 3850 and 3800; if broken, target 3750 to 3700.
Test the waters to the north at points between 3700 and 3650, with a defense at 3600, stop-loss at 50 points, and target between 3750 and 3800; if broken, target 3850 to 3900.
Specific operations should be based on real-time market data. For more detailed information, you can consult the author. The publication has a delay; suggestions are for reference only and risks are to be borne by yourself.
