ETH Analysis on August 5th Morning

ETH is currently in a neutral sideways consolidation pattern. The technical indicators show that the continuation of the upward trend is being constrained by insufficient trading volume. Although the EMA moving averages maintain a bullish arrangement, and the bullish resonance formed by the golden cross is still present, indicating that the overall market trend and momentum remain strong, the extreme shrinkage of trading volume has created a significant divergence between price and volume, which largely weakens the momentum for further price increases.

Moreover, the breakthrough of the key resistance level will become a decisive factor for the market direction in the short term.

Advice from the elder brother: You can watch around 3690 and consider 3600#币圈 $ETH .