🚨ETH0801 Morning Report｜Data as of around 8 AM
• The latest ETH price is $3,680, down about 0.5% from yesterday (July 31), which closed at around $3,705, showing a moderate decline.
• The intraday high was $3,696, and the low was $3,666, with limited fluctuations throughout the day, indicating a cautious market sentiment.
📊 Technical Analysis
• ETH is currently operating within the range of $3,665 to $3,833. It is approaching the lower support level, and if it cannot recover, there may be a risk of breaking down in the short term; if it rebounds, there is still potential for upward movement.
• The MACD is in a low oscillation state; the RSI is hovering in the neutral to slightly low area, indicating insufficient short-term momentum, and the structural direction remains unclear.
💰 Continued Capital Inflow
• In July, the net inflow of ETH spot ETFs reached $5,410 million, setting a new historical high.
• Over the past 18 days, a cumulative inflow of about $9,620 million has been recorded, accounting for about 4.7% of ETH's total market value (approximately $10.58 billion), indicating strong institutional positioning.
🎯 Quick Overview of Trading Suggestions
• If the price effectively rebounds and returns above $3,700, aggressive traders may consider entering positions with light holdings;
• If it falls below $3,665 with increased trading volume, it is advisable to cautiously reduce positions or temporarily avoid trading;
• On a medium-term basis, continue to pay attention to the support area below $3,665 to $3,700 for gradual accumulation.
📌 Core Viewpoint
Currently, ETH has strong capital support, and institutional confidence remains, but the short-term structure is weak and the direction is critical. It is advisable to seek progress while maintaining stability, waiting for confirmation with volume before taking action.
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