Ethereum $ETH Key Levels and Trends for the Day
Current price: 3.676, up 3.5% in 24 hours, weekly decline narrowed to 2%
Key support levels:
3,500 (daily wedge top + head and shoulders bottom neck line)
3,339 (4-hour 200EMA strong support).
Resistance levels: 3.565 (Fibonacci 0.382 + historical trend line resistance); 3.639 (super trend reversal point, looking at 3,750 after breakout).
2. Technical Signals
Long/Short: 30-minute RSI is neutral to bullish (62.61), but MACD momentum is weakening;
4-hour chart is above 20/50EMA, but under pressure from 100EMA (3.617).
3. On-chain Data: Daily trading volume reached 1.7 million transactions (a new high in 15 months), but net inflow to exchanges was 50.16 million (short-term selling pressure signal).
[Market Sentiment and Key Events]
Macro Risk: Federal Reserve Governor Cook resigns early (effective August 8), which may accelerate Trump’s nomination of dovish officials, potentially favorable for risk assets.
Historical data shows August is a high-retracement period for the crypto market (consecutive negative returns since 2021).
Capital Flow: Bitcoin spot ETF saw an outflow of 404 million last week, but the monthly net inflow still reached 12.2 billion, indicating a phase of profit-taking.
[Operation Strategy Suggestions]
Bitcoin:
Long: Enter in batches around 114000, target 115500-115800, stop loss below 113500.
Short: If it breaks below 114000, short with a target of 113000 (quick in and out).
Ethereum:
Breakout Trading: Go long after stabilizing above 3565, target 3.680-3750;
Defense Strategy: Stop loss below 3500 to avoid box breakdown risk at 2810.
3. During the Asian session, Ethereum needs to quickly break through 3.565 to continue the upward trend; if pressured during the European session, it may retest 3480: Bitcoin focuses on whether it can break through 115,000 with volume during the US session.
