$ETH has broken through the July 28 high this morning, just one step away from the 4000 mark.
However, the volume-price signals remind us not to be overly optimistic:
Since August 3, the increase in trading volume has been significantly lower than the trading volume in July, indicating a noticeable decrease in demand;
Today, after breaking through the July 28 high, it quickly retraced, further confirming the weakening upward momentum.
The decrease in demand lowers the probability of Ethereum continuing to rise.
There are mainly two possibilities for Ethereum's subsequent trend:
Scenario 1: Ethereum continues to rise and breaks through 4000, potentially reaching above 4200;
Scenario 2: Ethereum has already peaked in the short term, and will decline next, with a certain possibility of forming a double top;
Based on my personal inference, the likelihood is high for scenario 2, Ethereum will break through 4000 next week.
Strong recovery, asset doubling! Stay close during rainy days, plan ahead, and easily reap great returns.
Continuously follow: A2Z YALA
