8.20 Ethereum (ETH) market analysis reference

Ethereum is affected by Bitcoin, with its price failing to stabilize at the 4300 level, and the market reversed downwards, breaking the 4200 support, testing the low at 4133. Currently, the trend has entered a corrective rhythm again, with a slight rebound after a low retracement at 4133, and the price is currently running around the 4175 level, with slight adjustments causing a standoff between bulls and bears.
On the short-term hourly chart, the Bollinger Bands are in an opening position, and the market is entering a consolidation phase after a pullback. The upward momentum of the price is not strong in the short term. If a strong rebound cannot stabilize above the 4330 level, we will focus on the support at the 4080 level. As long as it does not break below this support, there is still a possibility for a bullish rebound; otherwise, the downward adjustment will continue. Currently, the trend is a fluctuating decline, so our operational suggestion is to focus on short positions during rebounds. The upper resistance is focused on the 4280-4330 area, while the lower support is focused on the 4080 level.
8.20 Ethereum short-term reference:
Short test 4280-4350 lightly, stop loss 30 points, target below 4220,
Long at the test range point 4080-4031, stop loss 30 points, target above 4150,
There is a delay in sending the article, and the strategy suggestions are for reference only. The market changes rapidly, and no matter how accurate your market judgment is, you must ensure to set stop-loss and take-profit orders. It is important to secure your profits.