Ethereum Market Analysis on August 3rd:

From a four-hour perspective, the price continues to operate below the midline of the Bollinger Bands, indicating that the current market is dominated by bears, making it difficult for bulls to organize an effective counterattack temporarily. Meanwhile, the Bollinger Bands are in an expanding state, which not only indicates that price fluctuations are still ongoing but also suggests that there is a tendency for the market to continue developing along the current trend in the short term.

In terms of indicators, the DIF line in the MACD indicator is located below the DEA line, and the distance between the two shows a tendency to widen further. At the same time, the MACD histogram is below the zero line and continues to extend, all these signals point to the market being in a clear bearish trend.

Based on this, the operating strategy during the early hours can focus on short positions:

Short around 3480, targeting the 3380 position. #币圈 $BTC $ETH