Currency Circle Academician: Behind the 8.17 Ethereum (ETH) Volatility: The Underlying Battle Between Bulls and Bears is Brewing, and Breaking the Range is the Turning Point of the Market! Latest Market Analysis Reference

　　Ethereum's current price is 1883. Many friends feel confused when trading Ethereum in the short term. Watching the market fluctuate back and forth, they are reluctant to chase after a bit of a rise and panic during a slight drop, repeatedly suffering losses. Recently, Bitcoin's direction has been grinding, and Ethereum has also been caught in narrow fluctuations. Many people feel that whatever they do is wrong; going long leads to pullbacks, and going short gets hit by small rebounds. Actually, in a volatile market, frequent opening of positions is the most dangerous; do not let the short-term spikes disrupt your rhythm.

　　Ethereum's daily K-line price is currently 1882, with the price running near multiple EMA moving averages. The short-term EMA15 and EMA30 are intertwined, indicating a balance between bullish and bearish forces. The Bollinger Bands are continuously narrowing, indicating that a large volatility in the daily level has not yet arrived, and the overall pattern maintains a bottom repair and consolidation. The MACD indicator shows DIFF and DEA are flat and glued together, with no significant increase in red and green bars, indicating no strong bullish or bearish signals. The first resistance above looks towards the EMA90 near 1902, with further strong resistance at the Fibonacci 78.6% position at 2242. The key support below is at the lower Bollinger band at 1846, with deeper support looking at the previous low of 1503. The daily chart currently does not have a clear trend, belonging to a volatile bottom grinding. A significant breakthrough above resistance or a drop below support is needed to open up a new round of market space.

　　The four-hour K-line shows that all short-term EMA moving averages are intertwined and glued together, with intense short-term battles between bulls and bears. The Bollinger Bands are extremely contracted, with the range compressing between 1875 and 1887, and the market is building momentum waiting for a directional choice. The MACD is oscillating around the zero axis, with both bullish and bearish momentum insufficient, and no continuous trending market has emerged. The first pressure above looks at the round number of 1900, which corresponds to the Fibonacci 50% position. This level has been under pressure multiple times and is a key level for the bulls to break through. The support below is at 1870, and then at the Fibonacci 23.6% position of 1730. Currently, there is no trend opportunity on the 4-hour chart; it belongs to a typical consolidation box, and it is not suitable for chasing highs and cutting lows in operations, but rather for selling high and buying low within the box, waiting for the market to choose a direction before following the trend.

　　Short-term reference:

　　Southern trial point at 1875 to 1855, stop loss 50 points, target looking at 1940 to 1980.

　　Northern trial point at 1900 to 1930, stop loss 50 points, target looking at 1870 to 1850.

　　Specific operations should be based on real-time data from the market; for more information details, you can consult the author. The article is published with a delay and is recommended for reference; risks are borne by the reader.

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