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8.16 Weekend Market Overview: Are You Brave Enough to Go Long on ETH with the Bullish Shark Pattern?

ETH has been hesitating and consolidating at the resistance level of 4454, which is also under the pressure of the descending wedge trendline; if it breaks through the resistance and stabilizes, going long is possible; conversely, if it drops below, it's advisable to go short in line with the trend.

Looking at the chart, ETH has a bullish shark pattern, with the predicted D point at 4744, indicating that there is still a bullish space of 300 points for Ethereum; wait for a right-side breakout and stabilization above 4454 to go long, with a stop loss at 4418 and targets at 4526, 4629, and near 4744; simultaneously, if 4454 breaks and falls back, going short in line with the trend is also an option, with a stop loss at 4503 and targets at 4399 and 4372; conversely, shorting at the D point to take profits on the pullback, with a stop loss at 4794 and targets at 4604 and 4512.

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