ETH Today's Market Update: Consolidation Awaiting Breakthrough

The longer the sideways movement lasts, the more intense the direction will be. ETH is brewing a storm!

From this 30-minute chart, ETH is currently in a typical "sandwich" market. The price repeatedly fluctuates within the Bollinger band channel of 4541-4599. Although the MACD yellow and white lines are slowly climbing below the zero axis, the trading volume continues to shrink, and the OBV indicator shows that the main funds are still waiting. The latest data shows that ETH is testing around 4570 repeatedly. The resistance level at 4794 is like an iron door, while the support level at 4530 is the last line of defense for the bulls.

Personal Opinion:

1. In the short term, this kind of shrinking volatility is most suitable for grid trading. It is recommended to sell high and buy low within the 4540-4599 range.

2. Medium to long-term investors should pay close attention to changes in trading volume. A breakout above 4600 could warrant a light position to try going long.

3. Be alert to the volatility risks brought by the Federal Reserve's interest rate decision.

Case Sharing: Do you remember that sideways movement at the end of July? After consolidating around 4500 for 5 days, ETH shot up to 4800 with a big bullish candle. History always has striking similarities, but it will not simply repeat itself.

The calm before the storm is the most terrifying! Want to know when ETH will break through? Join my live stream at 8 PM tonight, where I will reveal the movements of the main players based on on-chain data. Click to follow so you don't miss the best entry opportunity! $ETH #美国7月PPI年率高于预期