Ethereum: Foreign media reports that ETH rebounds and approaches resistance levels, while DOGE and XLM continue to consolidate.
U.Today
07-17 08:15
Ai Focus
Foreign media price analysis focuses on ETH, DOGE, XLM, and CASHCAT. ETH rebounded but is approaching key resistance; DOGE is consolidating at low levels; XLM is fluctuating around $0.20; and CASHCAT remains weak.
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Foreign media price analysis indicates that the cryptocurrency market continued to diverge in mid-July. Ethereum, after rebounding from its June lows, has approached a key resistance zone; Dogecoin remains near its recent lows; and Stellar is fluctuating around the $0.20 mark. In contrast, CashCat has retreated after its earlier surge, and short-term pressure remains unresolved.

ETH is approaching the $1950 to $2000 range.

The article argues that Ethereum has seen the most significant structural improvement among several assets recently. After rebounding from around $1,500 to nearly $1,950, the price has regained its position above the 20-day and 50-day moving averages, which have now become short-term support levels.

However, selling pressure has begun to emerge near the 100-day moving average. Analysts point out that ETH recently encountered selling pressure after testing the $1944 level, indicating that the $1950 to $2000 range remains the most significant resistance zone. If ETH can subsequently hold above this level, the market will further focus on the space above $2000, and even higher, the 200-day moving average.

Looking at the downside, the $1775 to $1800 range is considered the current major support zone. The article argues that as long as the price remains above this area, ETH's short-term rebound structure remains intact.

DOGE is still trading sideways at low levels.

Regarding Dogecoin, the article states that buying momentum remains insufficient, and the price is still trading near the lower end of its recent range. DOGE is currently below several major moving averages, indicating that the bearish structure has not yet reversed.

After falling below $0.10 at the end of May, DOGE subsequently dropped below $0.09 and then $0.08. In late June, the price mostly fluctuated sideways between $0.071 and $0.078. Analysts believe this indicates that selling pressure has eased somewhat, but the market has not yet formed a clear reversal.

The article mentions that the $0.070 to $0.072 range is currently the most critical support level. A break below this area could see the market further decline to around $0.065. To improve its short-term performance, DOGE first needs to regain control of $0.0765, and then break through the resistance around $0.082.

The divergence between XLM and CASHCAT continues

Stellar's price action is relatively more balanced. The article states that XLM is currently trading within a cluster of moving averages, with the price around $0.192, slightly above the 20-day and 50-day moving averages, indicating some support below. However, the $0.198 to $0.201 area still presents significant resistance, and $0.20 remains the most crucial level to watch.

Cash Cat continues its weak performance. The article states that the token is currently trading around $0.098, still below multiple hourly moving averages, with the nearest short-term resistance around $0.105. Higher levels around $0.125 and $0.133 form a denser resistance zone, and until it reclaims these levels, the current trend remains biased towards consolidation within a downtrend.

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