Market Analysis Reference for Ethereum (ETH) on August 3:

Ethereum faced resistance and retreated after peaking at 1898 during the early hours. The market has been oscillating downwards throughout the day, and the current price is below the middle line of the Bollinger Bands on the daily chart, having broken below the EMA moving average. The MAC indicator shows a death cross with the fast and slow lines diverging downwards, with green bars continuously appearing. Bullish momentum is weakening, and the KDJ indicator is trending downwards entering a weak zone, while the RSI is also falling, indicating a clear lack of bullish strength. Any price rebound will face selling pressure near previous highs, with limited upward space. There is significant support formed by the lower Bollinger Band. If this support is effectively broken, the adjustment will continue further.

On the short-term 4-hour level, the price has weakened from the peak of 1936, touching the low of 1820 before rebounding slightly, only to face pressure again. The current price is running below the short-term moving averages. The MACD indicator is close to the zero line, with bullish volume quickly shrinking, while downward momentum has not fully released. The KDJ is turning down, indicating a bearish sentiment in the short term. When the price attempts to correct upwards, it will encounter resistance from the cluster of moving averages, while previous lows below provide some support. Even if a short-term rebound occurs, it is expected to lack sustainability, and after the repair ends, there is still the possibility of further testing the lower levels. Therefore, the suggestion for trading is to focus on high short positions.

Market Analysis for Ethereum on August 3 for Short-Term Trading:

Short Position: Enter at 1890-1860, with a stop-loss above 1950, targeting 1840-1800.

Long Position: Enter at 1800-1830, with a stop-loss below 1780, targeting 1850-1890.

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There is a delay in article publication; it is time-sensitive. The analysis and strategies above are personal opinions, for reference only, and should not be operated on blindly!

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