8.20 Ethereum Market Analysis

Ethereum has risen during the day and touched the downward trend line resistance before pulling back. Currently, this pullback has broken the intraday Fibonacci levels. The one-hour Bollinger Bands downward channel has reopened, with the upper band suppressing the MA moving average, breaking through the middle band again. Short-term support to watch is 4065; if touched and not broken, hold a neutral position. The MACD on the width chart shows a golden cross with reduced volume, while the KDJ has plenty of downward space technically. Overall, the bearish trend is clear, and it is recommended to follow the trend.

Trading suggestion: Short in batches at 4150-4180

Target: 4070-4020

Risk control: 4200