财经少华
--
Analyze Ethereum (ETH)
Although the market previously expected altcoins to enter a period of prosperity, Bitcoin's dominance in this cycle is rising, which typically means that smaller altcoins will face difficulties.
Despite the broader altcoin market facing pressure from BTC dominance, the leading altcoin Ethereum still has an opportunity to turn the tide.
August will be a decisive month for Ethereum. If Ethereum can break through $4,000 quickly, it may trigger a strong rebound before the end of the year.
If it fails to break this resistance, the price may enter a phase of "slow decline," likely finding support in September and forming higher lows before attempting the next significant upward move.
While we all believe Ethereum will reach an all-time high this year, we must also acknowledge that it won't be a straight or easy path.
Ethereum is currently facing strong resistance around $3,950, failing to break through this resistance in recent days. This resistance has caused the price to retreat to key support levels.
Currently, Ethereum is testing the range of $3,500-$3,600; if the daily close falls below $3,500, it may further drop towards $3,200-$3,300.
#ETH
Although the market previously expected altcoins to enter a period of prosperity, Bitcoin's dominance in this cycle is rising, which typically means that smaller altcoins will face difficulties.
Despite the broader altcoin market facing pressure from BTC dominance, the leading altcoin Ethereum still has an opportunity to turn the tide.
August will be a decisive month for Ethereum. If Ethereum can break through $4,000 quickly, it may trigger a strong rebound before the end of the year.
If it fails to break this resistance, the price may enter a phase of "slow decline," likely finding support in September and forming higher lows before attempting the next significant upward move.
While we all believe Ethereum will reach an all-time high this year, we must also acknowledge that it won't be a straight or easy path.
Ethereum is currently facing strong resistance around $3,950, failing to break through this resistance in recent days. This resistance has caused the price to retreat to key support levels.
Currently, Ethereum is testing the range of $3,500-$3,600; if the daily close falls below $3,500, it may further drop towards $3,200-$3,300.
#ETH
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
ETH
3,435.52
-2.73%