Wave Riding in the Sea of Coins: ETH Market Analysis Reference for July 29:

Ethereum fell to the 1855 line last night before stopping the decline and rebounding for a recovery, with the current price operating around 1920. On the daily level, it continues to oscillate within a high-level box range, with solid support formed by the mid-band of the Bollinger Bands and the mid-term EMA. The mid-term bullish pattern has not been broken, and the market has the momentum to test the previous high of 1982, indicating some upward space. However, as the price approaches the upward pressure zone, the bullish momentum continues to slow down, the MACD indicator's volume column has almost disappeared, and the KDJ indicator shows weakness in upward movement, with a large amount of selling pressure accumulating at previous high points. Even if the price temporarily spikes up, its sustainability is difficult to guarantee, and the probability of a pullback after the spike is quite high.

On the short cycle of the 4-hour level, the price stabilized and rose again after a pullback, and is currently oscillating and consolidating near the mid-band of the Bollinger Bands, intensifying the short-term game between bulls and bears. In terms of indicators, the MACD is fluctuating around the zero axis, with alternating bullish and bearish momentum, while KDJ turning upward at a low position provides short-term bullish support. The short-term market is expected to continue oscillating and rebounding within the range. However, the upper Bollinger Band and previous high points create double pressure, and selling pressure will gradually appear during the rebound, making it difficult to establish a one-sided sustained rise; at the same time, the solid support from previous low points provides strong buying strength during retracement, and the short-term trend still follows the logic of range-bound oscillation, with the daily operation suggested to sell high and buy low within the range.

Wave Riding in the Sea of Coins: Short-term Reference for Ethereum on July 29:

Short position: Sell in the range of 1980-1950, stop loss at 30 points, target at 1920-1860,

Long position: Buy in the range of 1840-1870, stop loss at 30 points, target at 1900-1950,

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The above analysis and strategies are for reference only; risks are to be borne by yourself. The article is subject to review and publication delays, and strategies may lack timeliness. Do not operate blindly.

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