Coin World reported:
The decline in sentiment early in the morning and this morning did not reach 3300, but the bearish sentiment is continuing to ferment, which also means that the weekly and monthly charts will start a wave of bearish volume sentiment (the weekly and monthly charts have shown signs of weakness). Therefore, today we continue to connect the morning analysis and remain bearish on the intraday decline.
Looking at the daily chart, the MACD at the bottom of the water is attempting a second bearish volume, the KDJ has a bearish cross with volume (note that the three-line indicator shows a stronger bearish sentiment), and the BOLL overall continues to weaken and decline. In the main chart, the MA three-day moving averages are arranged bearishly and declining, and today the price closed below the MA5 moving average and showed a bearish volume signal of red TD1. Therefore, the current daily technical indicators have formed a resonance signal for bearish sentiment. Therefore, for the intraday short-term, we continue to be bearish, and the key support level is still at 3300 (which is extremely crucial for the overall trend line).
Looking at the 12-hour chart, the 12-hour chart indicators are not much different from the daily chart, with the amplitude chart indicators resonating bearishly. In the main chart, the price has fallen below the MA three-day moving averages and stabilized below them, and the MA three-day moving averages are arranged in a bearish manner with different magnitudes (the declines of MA5 and MA10 are extremely strong). Therefore, our intraday strategy is to be bearish.
In summary, I personally expect the overall trend of the intraday price today to continue to be bearish. In terms of trading, we should go short when there is a rebound, and the key support level is still at 3300. Pay attention to the overall trend line. If the 3300 area is effectively broken and stabilized, the subsequent price will move towards the 3120-3000 area. On the other hand, if 3300 can be held, there is still a probability of a rebound in the subsequent price. However, based on the current bearish trading volume, there is a probability of effectively breaking through 3300 in the short term. I hope everyone pays attention to the risks. The above is a personal intraday market analysis for reference only.
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