$ETH Trend Analysis (August 8)

Current Position: ≈3900 USDT

Market Overview:

Ethereum has recently continued its upward trend. After a large-scale liquidation of short positions, it is consolidating around 3900, showing a strong market performance. According to the Coinglass liquidation heatmap, a large number of short positions have been cleared in the 3850~3950 range, with bulls currently holding the initiative.

Technical Reference:

Upper Resistance Levels: 3950 / 4000 (concentrated orders)

→ If there is a volume breakout, it is expected to challenge 4070 / 4120

Key Support Levels: 3850 / 3780 / 3720

→ The heatmap shows solid buy orders, and a short-term pullback is likely to find support

Heatmap Interpretation:

The focus of the bulls and bears is shifting upward, with the concentrated area of short liquidations raised to above 3700.

The top range of 3950~4000 has concentrated orders. If short-term trading volume does not keep up, it may suppress price increases.

Currently in a high-level consolidation period. If it fails to break through 4000 soon, be wary of the risk of a false breakout followed by a pullback. If it drops below 3850 during the day, it may trigger a technical pullback, so watch the support strength at 3720.

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