Testing the resistance level, the direction choice depends on the breakthrough! ETH is now like being stuck in a door gap—whether it can get in depends on whether the key at 4690 can turn!

Current ETH price is 4688, just two dollars away from the resistance level 4690, almost like a high jumper's lips touching the bar—very precarious! Today opened at 4418, peaked at 4449, now slightly up by 0.08%, resembling a "slow and steady walk of an old man".

Key Levels:

Resistance Level 4690: The current price is testing closely; a breakthrough = a good start, failure to break = short-term ceiling

Midfield Defense 4420: Dropping here counts as a "technical pullback", which is a normal breather.

Bottom Line Support 4310: Breaking below here may trigger panic, equivalent to the last line of defense.

Indicator Signal:

RSI: Lying flat in the 40-50 range, belonging to the "watching mode".

Trading volume shrank to 140,000 dollars, indicating retail investors are stepping away from the keyboard—daring not to act rashly.

Technical Analysis:

Breakthrough Trading: Must wait for volume to stabilize above 4700 before following in; otherwise, it's easy to chase a false breakout.

Defensive Strategy: 4420 position reduction, 4310 loss turns short-term bearish

Time Window: If the 1-hour candlestick closes above 4690 for 3 consecutive times, it counts as a valid breakout.

News Front:

Positive News: This morning Trump announced that countries implementing digital taxes will impose high tariffs.

Long Brother's Viewpoint:
In the short term, ETH is like being stuck in an elevator door—can't go up or down! But with ETF expectations supporting it in September, I still hold a bullish outlook in the medium to long term. What the market lacks now is not funds, but confidence! As long as we break through 4690 with volume, the bulls can instantly get excited.

Operational Suggestions:

Don't Chase the Rise: The current price is near the resistance level; wait for it to break 4700 with volume before following in, otherwise it’s easy to get stuck.

Short-term Traders: If it breaks below 4420, reduce positions to avoid risks, wait for it to drop to 4310 to buy the dip, just like buying vegetables—"only buy when it drops."

Long-term Players: Hold steady, don't move; this wave of ETH is not over yet, don't let short-term fluctuations scare you away.

Do you think ETH can break through the 4690 ceiling today? Share your thoughts in the comments! If it breaks, let's witness the rocket launch together; if it doesn't, next time I'll teach you how to buy the dip and make a profit!


If you're still stuck in a position, don't worry, the opportunity is near; pay attention to Long Brother to catch the next wave of chances.