8.21 Ethereum Market Analysis

Ethereum rebounded to 4377 in the early session but faced resistance and fell back. Currently, it is maintaining a downward fluctuation, and the upward opening of the Bollinger Bands on the hourly chart has completed its narrowing. The MA moving averages are touching the middle track during the downward fluctuation. Short-term resistance is focused on the upper track at 4370. Support is focused on the 4000 mark. The attached MACD currently shows a dead cross with no volume to release, and the technical KDJ is narrowing at a low position. Overall, the bearish trend of Ethereum remains unchanged, and it is recommended to go with the trend.

Operational suggestion: Sell in batches as it rebounds to 4360-4390

Target: 4260-4160

Risk control: 4410