8.23 Ethereum (ETH) Market Analysis Reference

Yesterday evening, Ethereum was influenced by news, and the bulls made a strong push, causing the price to increase by several hundred points in an instant. The market broke through multiple resistances, reaching a new historical high in the early hours, surpassing the 4800 level. The subsequent upward momentum is also strong. If the market undergoes a correction and the price can remain above the 3750 level, there is a possibility of further upward movement to reach the 5000 level in the short term. Currently, Ethereum has a strong upward trend, and if it continues to break levels, the probability of reaching the 5000 level is very high.

On the 4-hour level, a series of large bullish candles broke through the previous high of 4616, accompanied by increased volume, forming a strong upward structure. The latest candlestick has encountered resistance at 4887 and retreated, forming a long upper shadow, indicating short-term correction demand. The daily level shows a V-shaped reversal structure. After the low point of 4060 on August 20, there has been a continuous 3-day increase in volume, breaking through key resistance levels of 4350/4500. It is currently testing the 4800 integer level for a pullback. MACD: On the 4-hour level, the DIF (80.72) has continued to widen after crossing above the zero line, but the latest red bar has shortened; the daily level shows a bottom divergence followed by a golden cross. It is recommended to short lightly at high positions and go long at low positions.

8.23 Ethereum Short-term Reference:

Try shorting at 4900-4950 lightly, with a stop loss of 30 points, targeting below 4850,

Try going long at 4600-4651, with a stop loss of 30 points, targeting above 4750,

8.23 Bitcoin Short-term Reference:

Try shorting at 117200-118000, defend at 120500 with a stop loss of 500, targeting below 115500,

Try going long at 113200-114200, with a stop loss of 500, defend at 111000, targeting above 115000,

The article may have a delay in sending. The strategy suggestions are for reference only. The market changes rapidly, and regardless of how confident you are in market judgments, always set stop-loss and take-profit levels to secure gains. #鲍威尔讲话 #BTC #ETH #ETH新高