ETH Technical Aspect: Triple Top Pattern Emerges, Short-term Adjustment Pressure Intensifies

Trend Analysis

Monthly Characteristics: July closed with a small upper shadow line, rising by 48.8%. Although it maintains a bullish trend, it has touched the triple top resistance area (connecting the previous two high points), caution is needed for the formation of a top pattern; Daily Signal: The last three candlesticks formed a 'three consecutive downs with upper shadows' combination, indicating a significant weakening of bullish momentum. Yesterday's high attempt fell below the moving average support, confirming a short-term peak; Volume Verification: The trend of shrinking volume during the rise and increasing volume during the decline continues, showing that funds are actively leaving the market, which is consistent with the typical characteristics of a top-side fluctuation retreat.

Support and Action Plan

Key Support: $3400 is where the 30-day moving average is located; if maintained, it indicates a healthy adjustment. If broken, the focus shifts to the $3200-$3000 platform; 4-hour Rhythm: After testing $3860 twice yesterday, it experienced four consecutive downs, with a spike in the morning closing positively. There may be a rebound in the Asian session, but the space is limited;

Intraday Strategy: Mainly short positions, with shorting opportunities in the upper resistance area of $3730-$3760, and attention to the support around $3630-$3600 below. #加密市场回调