7.19 Ethereum market outlook!



The current price of Ethereum is 3520 USD, within the fluctuation range of 3400-3600 USD.

The daily RSI has reached 75, entering the overbought zone. The MACD has a golden cross, but the red bars are shortening, indicating weakened upward momentum. The key resistance level is $3600, and the support level is $3400.

On-chain data shows that the staking volume for 2.0 increased by $700 million in a single day, and exchange reserves have fallen to historic lows, with long-term holders reluctant to sell. In the derivatives market, there is strong bullish sentiment among large holders, but the amount of short liquidations far exceeds that of longs, posing a short squeeze risk.

Overall, the short-term price is suppressed by the resistance level of 3600 USD, with signs of weakening upward momentum, but there is certain support in the long term. #eth
ETH-3,51%
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