8.13 Ether Silk Road in the early morning

Although Ether has shown a technical upward trend recently, the sustainability of this momentum is limited by shrinking trading volume and an overbought condition.

On the technical side, the bullish arrangement of moving averages combined with a bullish engulfing pattern confirms the market's upward momentum; however, the significant reduction in trading volume and the clear divergence between price and VWAP indicate a lack of volume support for the rise. Additionally, the RSI has entered the overbought zone, and the price is approaching the upper Bollinger Band, increasing the probability of a short-term pullback.

Overall, we are still in a strong upward phase. In terms of operational strategy, it is recommended to wait for a pullback to an effective support level before mainly focusing on long positions, aligning with the trend.

Ether: Buy in the range of 4200-4250, target 4400, looking at 4600 in the long term, each should strictly manage their defense. #比特币市值超越亚马逊#