7.25 Ethereum midday market analysis and operation ideas

Today, Ethereum has been in a short-selling decline phase. The 4-hour closing this morning has accelerated the decline of shorts. From the current market, Ethereum's daily support is about 3160-3102. If it is effectively stabilized and broken by shorts, then the price of the currency is likely to go to the 2863-2712 area. On the contrary, if the shorts cannot break through this area, then the bulls still have a pullback. From the perspective of daily technical indicators, the KDJ technical indicator is in a dead cross and continues to fall in volume. The entire track of the BOLL technical indicator is running in the lower track area. The DIF and DEA technical indicators in the MACD technical indicator work together to suppress it. At the same time, the MA5-day moving average and the MA10-day moving average cross downward. At present, the price of Ethereum has also fallen below the MA30-day moving average. From the daily line, it is undoubtedly dominated by a strong short trend

From the perspective of 4-hour technical indicators, KDJ technical indicators and MACD technical indicators both form a dead cross, and the entire track of the ultra-short-term BOLL technical indicator is directly smashed to the lower track area. The ultra-short-term MA5-day moving average and MA10-day moving average also continue the trend of continuous downward pressure on the daily line. From the perspective of 4-hour technical indicators, it is currently in an oversold market, but the probability of the daily line continuing to fall is not too large, so I personally judge that the currency price will rebound tonight, so the intraday operation strategy is recommended to focus on retracement and long positions.

Ethereum: 3140-3160 near the first line of long stop loss: 3102 target to: 3230

Bitcoin: 64300-63800 near the first line of long stop loss: 63200 target to: 65000-65600#BTC #ETH $BTC $ETH