Cryptocurrency Waves: 7.31 Ethereum (ETH) Market Analysis Reference:

Ethereum experienced a rise to the 1936 level in the morning before facing downward pressure, with the intraday market showing a fluctuating downward trend, currently trading around 1800. The daily chart maintains a high-position wide-range oscillation pattern, with prices retreating after hitting the high point of 1982, and bullish momentum continues to weaken. The MACD bullish volume bars are contracting, with bears beginning to emerge. The fast and slow lines have formed a dead cross, and KDJ is moving downward in sync, indicating a need for further retesting of support. However, the lower Bollinger Band along with medium to long-term moving averages constitutes a strong support zone, and the fundamentals and structure do not currently support a sustained major decline, constraining overall downward space.

The short-term 4-hour market is showing weakening oscillation, with prices continuing to face downward pressure. Indicators are diverging downward, with short-term bearish sentiment prevailing, indicating a need to further test support downwards. Yet, the key support range below has sufficient strength to limit further declines. Once the market sufficiently digests the bearish selling pressure through one round of downward testing and stabilizes upon reaching support, the market will welcome a corrective rebound. At this stage, it is not advisable to blindly chase shorts; instead, maintain a strategy of oscillating within the range by selling high and buying low.

Cryptocurrency Waves: 7.31 Ethereum Short-term Reference:

Short Positions: Short in the range of 1940-1910, stop loss above 1970, target at 1890-1850,

Long Positions: Long in the range of 1830-1860, stop loss below 1800, target at 1880-1920,

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