August 25th ETH Afternoon Market Analysis

Last Friday, driven by Powell's dovish remarks, Ethereum quickly broke through the 4380 resistance level and created a historical new high of 4888.

Over the weekend, the market had a narrow range of fluctuations, and last night it once again surged to 4956 before experiencing a pullback, currently operating around 4700. Overall, it remains in an upward channel with a strong structure.

The short, medium, and long-term moving averages maintain a bullish arrangement, and the overall trend remains upward. The MACD operates above the zero line, with the fast and slow lines approaching a golden cross, while the red bars turning green indicates a rebound in bullish momentum. If it breaks through the psychological barrier of 5000 with increased volume, it is expected to open up a new round of upward space.

On the 4-hour level, after a high rally, it has entered a phase of consolidation, with short-term adjustment pressure; however, the overall bullish pattern remains unchanged. Key focus is on the effectiveness of the 4600 support; if it stabilizes, a continuation of the bullish trend is expected, but if it falls below, deeper pullbacks need to be monitored.

It is recommended to enter long positions around 4670, with the first target looking towards 4750 and the second target towards 4800. $ETH #ETH创历史新高