8.2 Ethereum (ETH) market analysis reference

Ethereum also broke down in the evening, with the price successfully breaking through the 3500 mark. The market tested the 3430 level before bouncing back, and the current price is around 3490. In the short term, it is in a corrective consolidation. The intraday rebound has not stabilized around 3600, but the short-term downward trend remains unchanged. Therefore, our strategy is to short on rebounds, with resistance to watch in the 3600 area.
In the 4-hour level, a series of large bearish candles have broken through the key moving averages of EMA7 and EMA30. The low of 3427 has formed short-term support. The daily level shows a combination of a long upper shadow and a bearish entity, indicating heavy selling pressure above 3750. MACD: The 4-hour level shows the double lines crossing below the zero axis and the histogram expanding. The fast and slow lines on the daily chart have formed a death cross at a high position. RSI: The 4-hour RSI ( has dropped to the oversold area at 24.8, while the daily RSI has plummeted from 87 to 53, indicating a top divergence. EMA: The price has fallen below the 7-day and 30-day moving averages (3601/3720), with the 120-day moving average at 3529 forming a key defensive resistance level. It is recommended to enter the market with existing positions.
8.2 Ethereum short-term reference:
Short entry points: 3560-3610 short, stop loss 30, target 30-60 points,
Buy in the range of 3430-3380, with a stop loss of 30 points, and a target above 3500.
There is a delay in sending the article, and the strategy suggestions are for reference only. The market changes rapidly, and no matter how high your judgment of the market is, you must manage your take profit and stop loss well, securing your gains.