8.23 Morning Market Overview: ETH Hits New High of 4888#ETH创历史新高

$ETH ETH After Fed Chair Powell's Dovish Speech Last Night, Three Strong Bullish Candles Came Together, Sending ETH to a New High of 4888, marking the first creation of a new height in nearly a year; after all major coins reached new highs, ETH has been switching hands, finally returning as a champion.

In the 1H view, the MACD Dead Cross has formed, and a反U形顶 (inverted U-shaped top) has also appeared, indicating a high possibility of a pullback; currently, Ethereum is still searching for support below, and going long is not recommended; position for high shorts at 4856, defending the new high at 4888, with targets at 4783 and 4718; looking at a Fibonacci extension, ETH's upward resistance will be at 4921, 5003, and 5084; during a bull market, peaks are not easily defined, especially since ETH is currently in an explosive phase.

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