📉 $ETH Ethereum in August: A Crossroad Between Breakout and Retracement?
After reaching its highest level this year at $3,941 at the end of July, $ETH has fallen below the support level of $3,730 and is currently trading near $3,700. Therefore, it seems that August does not start with technical enthusiasm… but things are not decided so quickly 👇
🔍 Technical Direction:
- RSI is moving away from overbought = declining upward momentum
- MACD indicates a bearish crossover 🧯
- The price is testing a critical support area at $3,500 — breaking it could lead ETH into a temporary correction wave
📈 Positive Light?
- Historical statistics show good performance for ETH during August (with an average of +5.47%)
- Positive regulatory outlook + interest in ETFs + geopolitical relief = factors that could quickly restore momentum
- Any strong rebound above $3,730 could bring the scene back to test $4,000 as psychological resistance 🔥
🧠 Is it a breakout or a trap?
Everything depends on the confirmation candle and volume increase over the coming days. The markets are watching the $3,500 support closely, while the "whales" decide whether this is a phase of accumulation or distribution 🐋📊
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