7.30: Ethereum (ETH) Market Strategy Analysis Reference

Ether's market continued to pull back yesterday. Although there was a rebound during the day, it did not break through the upper resistance. The high point reached around 3880, facing pressure, while the low point touched around 3716. Currently, the price is running near 3760, with support at 3700 not broken. Although there was a rebound in the short term, the subsequent trend has been hovering around 3760, and the market is entering a phase of high-level consolidation.
Continuous bearish candles appeared at the hourly level, with the price dropping from 3875 to 3756.95, forming a short-term downward trend. MACD: At the 4-hour level, DIF(16.25) crossed below DEA(30.2), and the histogram(-27.89) continues to expand. At the 1-hour level, the dual lines are below the zero axis(-14.94/-8.27). EMA: The 4-hour price broke below EMA7(3789.07) but remains above EMA30(3772.76), while EMA120(3461.7) maintains an upward trend. On the daily chart, EMA7(3743.49) golden crossed EMA30(3299.47), and the state remains unchanged. The short-term trend appears weak, but after a large bullish candle (+130.2) on July 27 at the daily level, there have been two consecutive days of pullback, yet the overall trend remains in the upward channel without breaking the key support at the 3700 integer level. It is suggested to focus on long positions during pullbacks.
Ethereum short-term strategy reference:
Suggest 3860-3920, stop loss 30 points, target below 3810,
I suggest 3720-3675, defend 3500 for a supplement, stop loss 30 points, target around 3760,