On July 28, the Ethereum (ETH) market showed a volatile trend. The price encountered resistance and fell after reaching a peak, with the Candlestick pattern continuously moving downward, and technical indicators indicating a downtrend. It is expected that ETH will continue to move within the range, with the resistance level around 3940 and the support area at 3840. If it breaks below, it may test the level of 3815.



In light of the lack of important economic data releases on Monday, investors need to closely monitor the market reaction after the opening of the US stock market, as this may impact the cryptocurrency market.

Based on the current market conditions, traders may consider the following strategy: short ETH at the current price level, set the stop loss around 3920, and initially target a price level of 3840. If it breaks down further, then the 3815 area can be monitored.

It is worth noting that the cryptocurrency market is highly volatile, and investors should operate cautiously and manage risks effectively. At the same time, changes in the global macroeconomic situation and regulatory policies may also have a significant impact on ETH prices, so investors are advised to stay attentive.
ETH1.81%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 7
  • Repost
  • Share
Comment
0/400
ShibaMillionairen'tvip
· 07-30 01:54
big dump buy is the way to go
View OriginalReply0
TeaTimeTradervip
· 07-28 23:46
Short order profit is paramount
View OriginalReply0
tokenomics_truthervip
· 07-28 11:50
The bull run is still far away.
View OriginalReply0
TideRecedervip
· 07-28 11:47
Still a sideways fluctuation trend
View OriginalReply0
DecentralizedEldervip
· 07-28 11:42
Look for opportunities to buy the dip during short-term fluctuations.
View OriginalReply0
BearMarketLightningvip
· 07-28 11:31
Caution in the danger zone, observe and wait.
View OriginalReply0
RektButSmilingvip
· 07-28 11:27
go long干就完了
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)