Analyze Ethereum (ETH) Although the market had previously expected a period of prosperity for altcoins, Bitcoin's dominant position in this cycle is on the rise, which usually means that small altcoins will face difficulties. Despite the pressure from BTC's dominant position on a wider range of altcoins, Ethereum, the leader of altcoins, still has a chance to turn the tide. August will be a decisive month for Ethereum. If Ethereum can quickly break through $4000, it may trigger a strong rebound before the end of the year. If this pressure is not overcome, the price may enter a "slow decline" phase, likely finding support in September and forming a higher low point before attempting the next significant increase. Although we all believe that Ethereum will reach a historic high this year, we must also acknowledge that this will not be a straight or easy path. Ethereum is currently facing strong pressure around $3950 and has not been able to break through this pressure level in recent days. This pressure level caused the price to fall back to the key support level. Currently, Ethereum is testing the range of $3500-3600, and if the daily closing falls below $3500, it may further decline towards $3200-3300. ETH