July 16 Ethereum (Eth) market analysis:

In today's long-term trend, the daily level showed a medium-sized positive line yesterday, the K line continued to rise, and the price stabilized above the moving average. The technical indicators show a golden cross signal, and the trading volume is increasing. The overall market trend shows a strong upward momentum. Despite this, we still need to be vigilant about price pullbacks, which is the basic rule of market trading.

In the short-term hourly chart analysis, the price began to fluctuate upward in the European session yesterday, and then continued this trend in the US session. This morning, the price rose again and broke through the high, and is currently in a high-level oscillation state. The J-line pattern is a continuous positive line followed by a single negative line, and the technical indicator golden cross continues to run, and the market remains strong. From the historical law, each small pullback is accompanied by a price increase, showing that the pullback is limited.

Therefore, today's short-term trading strategy for Ethereum: go long when the price pulls back to the 3430 area, set a stop loss in the 3390 area, and target the 3500-3530 area.

I am Mao Ge, a wave theory enthusiast. #美国大选如何影响加密产业？ #美国6月CPI大幅降温 #币安7周年 #美联储何时降息？ #ETH🔥🔥🔥🔥 $BTC $ETH $SOL