Analyst Liang Qiu: Ethereum surged again on July 29, Bitcoin is under significant pressure.

Ethereum has surged from the early session low of 3727 to the current level of 3885, showing a clear upward trend, while Bitcoin remains hovering around 119000. Currently, Ethereum's rally is approaching yesterday's high point, and the probability of the market breaking through again is not high. The bullish momentum on the hourly and four-hour charts has not extended further. Our strategy to re-enter the market in the early session has once again reluctantly led to exiting positions. However, with the price having risen to this point, we are looking to enter short positions directly near the high points, with attention on the resistance at 3940 above and the support at 3730 below.

The recommendation is to enter a short position for Ethereum at the current price of 3875, with a short-term target of 3800. If it breaks, look at the 3750 level, and a stop loss at 3940. For Bitcoin, enter short near 11900, with a target around 117500, and a stop loss at 120500. The publication is time-sensitive; please refer to real-time data for specifics. #Gate ETH十周年理财专区# #USD1理财年化达24%# #中美经贸会谈#