According to the latest market data, Ethereum (ETH) is currently still in a consolidation phase. The daily chart shows a slight rise at yesterday's close, and the candlestick has been moving upward continuously, but it is still hovering within a high-level fluctuation range. In terms of technical indicators, the auxiliary indicators are still showing a death cross trend, reflecting a weakening of market momentum.



It is worth noting that the upward momentum on Monday did not continue on Tuesday, but instead showed a significant pullback. This phenomenon indicates that in the current market environment, both upward and downward trends are difficult to sustain, further confirming that ETH is in a phase of consolidation. Investors should remain cautious and adopt a short-term strategy of selling high and buying low until there is an effective breakout or decline.

From the short-term hourly chart, the US trading session continued the downturn trend of the European market, but there was a rebound in the early morning hours. Currently, the Candlestick pattern shows a continuous rise, although the auxiliary indicators are still in a death cross state, the momentum has weakened. In the short term, ETH is expected to see a rebound, and investors should closely monitor the important resistance level around $3700.

Based on the current market conditions, we recommend the following short-term trading strategies:

1. If the ETH price falls back to around $3590, consider establishing a long position, with a stop loss set at $3560 and a target price in the $3650 area.

2. If the price rebounds to around 3670 USD, consider opening a short position, with a stop-loss at 3701 USD and a target price looking towards the 3605 USD area.

Overall, in the current volatile market, investors should maintain a flexible range trading mindset, with short-term high selling and low buying as the main strategy, while staying vigilant and responding steadily to market fluctuations. It is worth mentioning that the market may recently be affected by some external factors, such as new regulatory policies or important personnel changes, and investors should also closely monitor these macro factors that may impact ETH trends.
ETH0.71%
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MemeTokenGeniusvip
· 08-09 02:46
The fluctuation still needs to pump bullish.
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Anon4461vip
· 08-08 06:18
There are opportunities in the fluctuation range.
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OldLeekMastervip
· 08-06 21:02
Continue to be bullish on Ethereum
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WhaleWatchervip
· 08-06 03:51
short positions danger signal
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BlockchainRetirementHomevip
· 08-06 03:41
The market mainly moves sideways.
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FlashLoanKingvip
· 08-06 03:31
In the short term, continue to be bullish, brothers.
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