Academician of the Cryptocurrency Circle: On August 18, Ethereum (ETH) market is repeatedly washing out, is Ethereum's correction a rebound or a trap to lure investors! Latest market analysis reference

Ethereum's current price is 1907, looking at the price oscillating around 1900, there's no clear breakout signal upwards, and there is support holding it downwards. Many people are caught in a dilemma of holding and feeling uncomfortable or unwilling to cut losses. The major direction has not moved out of a one-sided trend, and the back-and-forth fluctuations are most likely to repeatedly trigger losses. Many people operate frequently in the short term, countering themselves, and the small profits earned are all wiped out after a few corrections.

The daily K-line price is running near the EMA15 and EMA30 moving averages, which have started to flatten out from their downward trend, indicating a significant alleviation of the downward momentum. However, the mid to long-term EMA60 and EMA90 continue to exert pressure from above. The MACD indicator's DIFF and DEA have turned upward from a low position, and the red bars are being released moderately with no signs of strong volume; the Bollinger Bands have narrowed, and the price is below the middle band. The Fibonacci level at 78.6% position 2242.77 is an important resistance from above, while strong support is at 1503.60. Currently, it belongs to the bottom recovery phase after a major decline and has not yet developed a reversal bullish trend; it is more about oscillating to build a bottom, with substantial pressure from above, and the rebound process will be repeatedly under pressure.

The four-hour K-line is testing the pressure above the 4-hour level; EMA moving averages are entangled and bonded, with intense game between short-term bullish and bearish forces. The MACD dual lines are operating above the zero axis, and the red bars are slightly expanding, indicating that short-term bulls have some momentum, but the volume has not continued to expand, raising doubts about the sustainability of the rise. The Bollinger Bands are closing, and the price is operating near the top band. The upper band at 1903 becomes short-term pressure, while the lower band at 1866 is important defensive support. The Fibonacci level at 38.2% position 1870.42 is the watershed for short-term bulls and bears, with the price repeatedly contending above this level. The four-hour does not show a clear one-sided movement; it belongs to a range oscillation market where it is easy to encounter a pullback upon rising, and a buy order will emerge at support points, making it suitable for a high sell-low buy strategy but not for mindless chasing of orders.

Short-term reference:

Testing south entry point from 1875 to 1855, stop loss 50 points, target looking at 1940 to 1980.

Testing north entry point from 1950 to 1970, stop loss 50 points, target looking at 1910 to 1880.

Specific operations should primarily rely on real-time market data; for more details, you can consult the author. There may be delays in article publishing, so it is recommended as reference only and risks are borne by the reader.

Warm reminder: The above content is solely created by the author on the public account. The advertisements at the end of the article and in the comments section are unrelated to the author. Please discern carefully, thank you for reading.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。