August 20 ETH Analysis
ETH saw a strong surge in the early hours, reaching around 2,336 at its peak before gradually retreating. It is now consolidating around 2,245. Net capital inflows are substantial, and short-term bullish sentiment is very strong, but selling pressure has begun to emerge after the surge. On the 15-minute chart, ETH failed to hold the highs after the rally and has entered a post-surge consolidation phase. The 2,330–2,340 range is strong resistance, while support is around 2,230.
Personal suggestion: Take a short-term long position, with a target of 2,320–2,350
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