Folks, today let's talk about the latest Ethereum (ETH) market trends!

First, let's look at the current price and fluctuations. As of August 6th, the ETH quote is around $3580, down 1.5% in 24 hours, and has retraced about 13% from the July high of $4500. This price fluctuation really makes people's hearts go up and down. From the perspective of key support levels, short-term support is at $3340 - $3380, which is the lower edge of the triangle oscillation. If the price falls here, there may be a small rebound. Further down, strong support is at $3150 - $3200, this area gap has not been filled yet, once touched, the probability of a rebound is very high.

In terms of resistance levels, Fibonacci retracement levels are $3564 (38.2%) and $3681 (61.8%), these two positions are like two checkpoints, if it can break through $3700, then it will be great, and it is expected to test the previous high of $3900.

Let's talk about large transactions and chip distribution. On August 4th, an institution bought 14,000 ETH in one go through OSL's over-the-counter market, which cost about $50 million, which is a big deal! There is also the "ICO veteran address", which has withdrawn 13,600 ETH from the exchange in three weeks, worth about $47 million. It seems that the whales are quietly hoarding goods. From the perspective of cost support, the $2500 - $2536 range is the most aggressive area for recent increases, with 3.45 million ETH concentrated here, which is a very strong support level.

There is also the operation guide given by eth Hao Ge today, do long near 3530 - 3560, first look at 3608.22, then look at 3635.13. However, everyone must be cautious when operating, the currency circle is risky, and investment needs to be cautious. I wish you all can make money in the Ethereum market! #ETH