Ethereum (ETH) market analysis and operation suggestions on July 19, 2024
Market Analysis
Ethereum fell below the key support level of 3400 in the early trading and there are signs of further decline. The current market sentiment is bearish, but there is still a possibility of rebound at certain support levels. The following is a detailed analysis of different time frames.
Daily chart analysis
On the daily level, Ethereum fell below 3,400 points in the early trading and showed a trend of further decline. The support level below is recommended to focus on around 3,360 points. If the price can stabilize at this position, it may rebound. The current market sentiment is relatively cautious, and it is necessary to pay attention to the changes in key support levels.
Four-hour chart analysis
On the four-hour chart, the price remains in the Bollinger Bands oscillating downward channel. The upper pressure is 3430 points, and the lower support is 3340 points. It is expected that the overall price will fluctuate within this range of about 100 points on Friday. In the short term, the market may fluctuate back and forth in this range, and it is necessary to pay close attention to the performance of support and resistance levels.
One hour chart analysis
On the one-hour chart, the price is generally maintained within the Bollinger Bands range, with more obvious fluctuations between 3480 and 3350 points. Within this range, the price fluctuation is limited and there is not much room for maneuver. Investors should pay attention to short-term fluctuations and remain flexible.
Recommendations
Short-term operation strategy:
Robust strategy:
If the price gets support near 3360 points, you can consider gradually placing long orders, aiming at the high pressure near 3430 points.
Strictly set the stop loss below 3340 points to control the risk.
Aggressive Strategy:
If the price rebounds to the 3430 point line and cannot break through, you can consider short-term shorting, with the target around 3360 points.
Open long positions in batches around 3340 points, target 3430 points, and set stop loss below 3320 points.
risk control:
Make sure that each transaction has a strict stop loss level set to prevent unnecessary losses caused by sudden market fluctuations.
Maintain position management, avoid heavy positions, and respond flexibly to market changes.
Finally, let’s get back to the core. In a bull market, what to buy? How to buy? It is very important, but when to sell is more important. If you want to know more about the market interpretation and strategy, follow me, find the blogger, and play in the crypto circle together.
