8.8midday

The Ethereum market has experienced a slight rise, successfully breaking through the 3950 mark, demonstrating a strong upward momentum. However, subsequently, the overall market did not maintain its upward trend and instead entered a correction phase, currently in a high-level tug-of-war state.
From a technical indicator perspective, on the short-term hourly chart, the price has broken below the upper Bollinger Band support and is currently testing the strength of the resistance line, with the auxiliary indicators showing increasing downward volume, suggesting a downward intention for the price. However, on the four-hour level, the upward trend has not changed, and the price continues to test the strength of the upper Bollinger Band. Currently, both bulls and bears are in fierce competition at this position, and future movements need to pay attention to the breakthrough of key support and resistance levels. If the price can stabilize above 3950 and continue to increase in volume, it is expected to further explore higher price levels; conversely, if it breaks below the key support level, the pullback may further increase.
Ethereum: 3900-3870 more, target 4000