The market is born in despair, rises in hesitation, and ends in madness—right now, ETH is stuck in the 'hesitation' and 'madness' zone, with both bulls and bears wrestling; whoever wins, we follow!
Market interpretation: 4400 remains the dividing line between bulls and bears.
From the 1-hour chart, ETH has significant support at the entry price of 4400, becoming the core defense line for short-term bulls. The price has tested this level multiple times without breaking, indicating the support is effective. However, when attempting to break the previous high of 4440, the volume was insufficient, and an effective breakthrough has not yet formed. The key pressure zone is between 4420-4440; volume needs to increase to open up upward space.
News and data updates
Ethereum ETF has recently seen continuous net inflows, with institutions like BlackRock and Fidelity increasing their holdings by about $110 million within the week, indicating that medium-to-long-term funds are still positioning themselves. Bitcoin remains stable above $67,200, providing support for ETH due to the overall market stability. Expectations for the Pectra upgrade are still fermenting, but the market is currently more focused on the Federal Reserve's September interest rate meeting, cautioning against fluctuations caused by macro sentiment changes.
President's personal views and operational suggestions
I believe ETH's current consolidation structure is bullish; the longer it stays sideways, the greater the probability of a breakout upwards. Similar to the previous SOL rally after consolidating at 190, if ETH holds above 4400, it is expected to test the 4480-4500 area.
Specific operations:
If it breaks above 4440 with volume, look towards 4480-4500; if it falls below 4400, short-term support is around 4348 (the previous low in the chart), consider setting up after a rebound.
Main focus points
Keep a close eye on tonight's US stock market opening and whether BTC can hold above 67,000—if Bitcoin stabilizes, ETH will surely take the opportunity to push higher! If you want to receive real-time updates and interpretations, leave a comment in the comment section saying 'waiting for the breakthrough' to catch the next wave of opportunity together.
President Fuqi's team specializes in serving ambitious madmen! Follow President Fuqi as he navigates the market.
