8.20 Ethereum (ETH) Market Analysis Reference

Ethereum is affected by Bitcoin, and the price has also failed to stabilize at the 4300 level, with the market reversing downwards and breaking through the 4200 support, testing the low at 4133. The current trend has re-entered a correction rhythm, with a slight rebound from the low of 4133, and the current price is operating around the 4175 level, with the market undergoing slight adjustments and becoming stuck between bulls and bears.

From the perspective of the short-term hourly chart, the Bollinger Bands are in an opening state, and the market correction has re-entered a consolidation phase. The upward momentum of the price in the short term is not strong, and if a strong rebound cannot stabilize above the 4330 level, we will focus on the support at the 4080 line. If this does not break, there is still a possibility of a bullish counterattack; otherwise, the correction trend will continue. The current trend is one of oscillating downward, so our operational advice is to focus on short positions during rebounds. The resistance above is in the 4280-4330 area, and the support below is at the 4080 line.

8.20 Ethereum Short-term Reference:

Test the downside 4280-4350 for light short positions, stop loss 30 points, target below 4220,

Test the upside 4080-4031 for long positions, stop loss 30 points, target above 4150,

There may be delays in sending this article, and the strategy suggestions are for reference only. The market changes rapidly, and regardless of how high the judgment and grasp of the market are, be sure to manage take profit and stop loss, securing profits #加密市场回调 #ETH质押退出动态观察 #Strategy增持比特币 #俄乌冲突即将结束？ #BTC