Scholar in the cryptocurrency circle: On August 12, Ethereum (ETH) fluctuated and found a bottom with hidden mysteries, is a major reverse turn window approaching? Latest market analysis reference

Currently, Ethereum is priced at 1862, unable to rise significantly and also not falling, fearing to go long because of the risk of a high pullback, and fearing to go short because of the potential for a sudden rebound, making it difficult to trade as the market keeps oscillating. Many people always think about catching a big directional move, but the current market is actually a back-and-forth oscillation pattern, making it easy to get hit on both sides when chasing prices. In fact, there's no need to always fantasize about a big overnight market; understanding key support and resistance, while prioritizing risk control, can equally help you find a trading rhythm in a fluctuating market. There's no need to watch the market frequently and operate repeatedly; get your hands on key positions before taking action. It’s better to miss out than to make a wrong move; maintaining your trading rhythm in a chaotic market is more important than gambling on direction.

The daily candlestick chart is in a repair stage, currently operating in the lower-middle band of the Bollinger Bands. Multiple EMA lines are diverging downwards, and the mid-term bearish pattern has not been completely reversed. The MACD indicator shows that the DIF and DEA are flattening below the zero line, with balanced buying and selling momentum, and no clear one-sided signal. The Fibonacci level of 78.6% at 2242 is a strong resistance above, while 1503 below is the support for this round’s low point. Until an effective breakout on the daily chart occurs, it is still defined as a bottoming formation after a sharp decline. It needs to stabilize above the 1900 level upwards to open further rebound space.

The four-hour candlestick chart shows that the bullish momentum is beginning to weaken as it tests short-term moving averages. The Bollinger Bands are narrowing, with the upper band at 1946 and the lower band at 1856, and the price is nearing the lower band. The MACD indicator has formed a death cross downwards, and short-term bearish momentum is being released. The Fibonacci level of 38.2% at 1870 has already been pierced by the price, turning from support into resistance; below, the 23.6% level at 1730 is important defensive support. Currently, the four-hour level shows a weak oscillation, with a large amount of trapped selling pressure accumulating in the 1900 to 1930 range. If the price cannot quickly recover above 1870, it will continue to test lower support levels in the short term.

Short-term reference:

If the price does not break below 1850 to 1800, then go long, set a stop-loss at 1770, and target 1900 to 1950.

If the price does not break above 1930 to 1960, then go short, set a stop-loss at 1990, and target 1890 to 1850.

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