7.16 crypto world Mr. Coin: Ethereum (ETH ) market analysis reference

Ethereum showed strong performance against Bitcoin during the day. The market maintained a volatile upward trend yesterday, with prices closing positively and bullish sentiment running high. In the evening to early morning, there was a strong spike in prices, but the subsequent market correction was also relatively strong. In a short time, prices surged by hundreds of points, currently facing resistance near the 3097 level. The overall pattern of volatility and upward movement remains unchanged. If prices can break through the 3100 level, then the upper space will be further opened up, and the increase is expected to continue.

On the short-cycle hourly chart, the Bollinger Bands are in an opening posture, with the market running in the upper-middle track area. The price range is continuously being compressed, and the upward momentum in the short term is beginning to weaken. It is expected that the market will have another wave of consolidation, so it is not advisable to blindly chase after the rise before breaking through the 3100 mark. Focus on steady pullback for long positions, with rebound shorts as a supplement. Support below is at 2990-2960, and the upper level to watch is 3100.

7.16 Ethereum short-term reference:

Short position at 3145-3085, defend 3280 to add, stop loss: 50, target below 3050,

Test the position at 2995-2955, stop loss 30 points, target above 3040,

There is a delay in article transmission, and the strategy suggestions are for reference only. Market conditions change rapidly, and no matter how accurate your market judgments are, you must always set take profit and stop loss orders to secure your gains.