Recently, Yitai has welcomed a surge in the market, rising from a low of $3350 on August 3rd to a peak of $4220. The current price is around $4170. Recently, it has outperformed Bitcoin, and after stabilizing above the $3900 mark on August 8th, the technical indicators show a bullish trend, with institutional purchases boosting confidence.

From a technical perspective, the daily chart shows the Bollinger Bands opening upwards, the MACD red bars continue to increase, and the KDJ is in a golden cross upward state. On the hourly chart, although the KDJ is in the oversold zone, there is no sign of weakening momentum. The candlestick is currently running along the upper Bollinger Band, continuously attempting to break through the upper band. In the short term, Yitai still has room for further upward movement.

The key support and resistance levels for Yitai are currently at the first support level of $4150 and the second support level of $4100. The first resistance level is $4250, and the second resistance level is $4300.

Long position trading range suggestion: If the price stabilizes around $4150, a light long position can be attempted, with a stop loss at $4120 and a target of $4230.

Short position trading range suggestion: If the price fails to form an effective breakthrough at $4200, a short position can be attempted, with a stop loss at $4225 and a target of $4150.

Current volatility is high, so it is recommended to build positions in batches and implement strict stop losses. Before breaking through the range, the main strategy should be to short high and long low. The market is ever-changing, and specific operations should be adjusted based on real-time data. Investors are advised to closely monitor macroeconomic data (such as Federal Reserve policies) and geopolitical dynamics.