August 25 Midday Ethereum Analysis

Yesterday, ETH continued to fluctuate during the day, frequently testing the 4800 mark but failing to effectively break through. The market trading atmosphere was thin. In the evening, the price broke through the 4800 line and rose, reaching a historic high of 4957; however, after the new high, it fell sharply influenced by Bitcoin, and the daily line eventually closed with a long upper shadow bullish candle, indicating significant selling pressure above.

Currently, the market exhibits a low-volume sideways trend, with weak buying interest, and prices only relying on support to maintain fluctuations. Overall trading activity has noticeably decreased; in the past few hours, the market has been consolidating around 4700, with small bearish and bullish candles alternately appearing, indicating a low-level consolidation phase after a sharp decline.

From a technical perspective, daily support focuses on the 4676-4576 range, while key resistance levels to watch above are 4797 and 4935.

Trading suggestion: Consider placing long positions in the 4676-4695 range, with a target looking towards 4780-4800. $ETH