8.12 Morning Thoughts
From the one-hour chart, the price quickly rebounded after touching the lower Bollinger Band and recovered previous losses. The low-level candlestick pattern shows a continuous characteristic of long lower shadows, confirming the existence of a clear support area below.
Currently, the price is in a fluctuating pattern within a range and has not formed an effective downward breakthrough with volume support. The short-term market structure still shows a bullish dominant trend.
Trading Suggestions
Ethereum 4210-4240, see 4385$ETH