ETH Market Analysis
From July to August, ETH's trend has generally followed a standard upward channel. During this period, a relatively regular structure can be observed: the upward waves typically range between +30% and +40%, while the pullbacks are mostly around -15%. This symmetrical fluctuation rhythm indicates that ETH has completed a relatively complete upward trend within the channel, and the push towards 4800 may have reached a temporary conclusion. Next, it is highly likely to enter a key position of turnover and consolidation phase.
Currently, two core points need attention:
1️⃣ Support conversion in the 4000–4200 range
• After ETH broke through 4000, it stabilized above 4200, turning this area from a strong resistance into new support.
• As long as it can hold steady in this area, the market is still expected to challenge the highs again, with upward targets of 4500 and 4800.
• Therefore, within the 4000–4200 range, short-term bullish positions can be considered.
2️⃣ Risk of breaking below 4000
• If ETH effectively breaks below 4000 USD, it means that this round of upward trend has officially ended, and the market will enter a pullback cycle.
• The potential support area below should first focus on the 3600–3700 range; if it fails to hold, it may drop further to around 3200.
Summary
ETH's current market situation is at an important turning point. Upward, if it stabilizes at 4200, it can again challenge the 4500–4800 range; downward, if it breaks below 4000, the upward trend will conclude, and the market will enter a pullback. Overall, the key in the coming period is whether the 4000–4200 range can hold, as it will determine ETH's medium to short-term direction
