Ethereum Analysis on August 6th:
From the current market perspective, on the four-hour level, after a significant bearish candle drop, the price has stabilized above the lower Bollinger Band, and there has been a rebound. The Bollinger Bands are parallel and open, showing no clear signs of moving downwards, and the lower Bollinger Band acts as a barrier preventing further declines by the bears; as long as this level is not broken, the bulls still have a chance for a rebound.
Looking at the one-hour level, after a strong drop below the lower Bollinger Band, there have now been two consecutive bullish candles, indicating that the bearish strength is weakening and the bulls are starting to gain momentum. Since this wave of decline seems to be nearing its end, we can wait until the price pulls back later in the night to buy at low prices and go long.
Brother's trading suggestion:
