ETH Technical Analysis:

Market Sentiment Positive Factors: The Ethereum 10th Anniversary event (July 30) may stimulate on-chain activity. The total amount staked remains high, indicating that the market still recognizes the medium to long-term logic.

Negative Factors: Over $2.5 billion worth of ETH is queued to exit staking, and short-term supply pressure may lead to selling pressure. The willingness to stake new assets has weakened, and market sentiment is becoming cautious. On-chain gas fees have not significantly increased, and NFT trading volume has not shown notable growth.

Technical Trend: A rise of 180% in the past 3 months, in a strong upward trend, but recent high-level fluctuations with substantial trading volume have weakened upward momentum.

Key Turning Points: If it breaks through $4,000 with volume, it may short-term challenge $4,500. If positive news leads to a pullback or BTC weakens, falling below $3,750 may indicate a transition to a correction phase.

4-Hour Level: Currently showing steady upward movement, with good volume-price coordination, which is a healthy trend.

Short-term Support: $3,850-$3,800 (falling below will turn weak).

Short-term Resistance: $3,930-$3,980.

Operational Suggestions: If it rises to around $4,000 and faces resistance, consider shorting, with a stop loss at $4,050 and a target of $3,850-$3,750.

If it falls below $3,750, it may pull back to the $3,500-$3,600 support area, where one can wait for a buying opportunity. #ETH重返3800