8.20 Ethereum (ETH) Market Analysis Reference

Ethereum is influenced by Bitcoin, and the price has failed to stabilize at the 4300 position, with the market reversing downwards and breaking the 4200 support level, testing the low at 4133. Currently, the trend has once again entered a correction phase, with a slight rebound from the low of 4133, and the price is now operating around the 4175 position, with slight adjustments causing a tug-of-war between bulls and bears.

On the short-term hourly chart, the Bollinger Bands are opening up, indicating that the market correction has once again entered a consolidation phase. The upward momentum in the short term is not strong, and if a strong rebound does not occur to stabilize above the 4330 position, we will focus on the 4080 support line. If it does not break, there is still potential for a bullish rebound; otherwise, the downward correction will continue. Currently, the trend is oscillating downwards, so our operational suggestion is to prioritize short positions on rebounds. The upper resistance level to watch is the 4280-4330 area, while the lower support level is the 4080 line.

Short-term Ethereum Reference:

Short test at 4280-4350 lightly short, stop loss 30 points, target below 4220,

Long test at 4080-4031, stop loss 30 points, target above 4150,

The article may be delayed in sending, and the strategy suggestions are for reference only. The market is rapidly changing, and no matter how high the confidence in market judgment is, be sure to manage take-profit and stop-loss effectively for safety.

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