8.10 Ethereum Evening Analysis
Ethereum has broken through the phase high of 4100, reaching a maximum of 4332. Although it is likely to close with a doji today, don’t be fooled by this minor correction— the trading volume has not truly increased yet.
The daily MACD has flipped above the zero axis, the weekly is gaining momentum, and the monthly shows a bullish divergence turning red. These three major signals indicate that as long as the price does not drop back below 3950, the trend remains unchanged, and the main upward wave is still brewing.
Operational Strategy:
Support levels below are 4150 and 4000. If it retraces without breaking below, it is advisable to enter long positions. The upside looks at 4300 and 4500 for breakthroughs, after which it could target 4868 and even possibly reach new highs.
