ETH (Ethereum) Trend Analysis

Overall Trend: Started from 2111 at the end of June, peaking at 4788, completing a standard major upward wave (increase of 126%).

Currently entering a high-level adjustment phase, but overall still in an upward channel. Short-term focus on the support level at 4150; if it breaks below, it may drop to 3880 (support at the lower channel boundary).

Technical Indicators: MACD shows a high-level death cross, and the momentum bars have turned negative, indicating increased bearish selling pressure.

However, the fast and slow lines remain above the 0 axis, indicating that the market has not completely turned bearish, and it may maintain high-level fluctuations in the short term.

Key Points: If it pulls back to 4150 and then rebounds, there is still a chance to rise towards 4680; whether a new round of upward movement can start depends on the interest rate cut expectations from the Federal Reserve in September.

4-Hour Level: Recently formed a descending trend with three high points at 4780-4680-4580, with a weak short-term trend. Support below at 4260-4220.

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