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Analysis of ETH strategy on the evening of August 18
The daily chart shows that after reaching a high of 4794 on August 14, the price has continued to decline, with a significant downward trend. Today, a long bearish candlestick was formed, indicating that the sellers have a clear advantage. In the short term:
The 1-hour chart shows that the price has repeatedly tested the 4250 level but has not been able to form an effective breakout, currently maintaining a weak oscillation pattern. The technical indicators present the following characteristics:
MACD Indicator: The momentum bars are located below the zero line and continue to expand, with the DIF and DEA dual lines maintaining a downward trend.
RSI Indicator: Current reading 25, has entered the oversold area
Moving Average System: Price is running below EMA7/30/120, with all period moving averages in a bearish arrangement.
It is recommended to buy ETH as it falls to around 4300-4270, aiming for targets around 4380-4450. If it breaks through, continue to look at #主流币山寨币上涨# .