$ETH 8.4 early morning thoughts and market update The overall trend on Ethereum’s four-hour chart remains in a choppy downward consolidation, with each phase of rebound forming lower highs and the sell-off rhythm clearly visible. Even if the market shows a small, short-term recovery, it’s difficult to reverse the overall weak structure; the rebound is extremely limited and cannot repair the bearish positioning created by the earlier major drop. The overall market focus keeps stepping lower steadily. Layer upon layer of resistance piles up overhead, and bulls lack sustained entry capital. Each rebound fails to form an effective reversal, and the broader market remains firmly controlled by the bears. Judging from the one-hour chart and the Bollinger Bands, the current price is running steadily below the Bollinger Bands’ midline. The midline has become the key resistance that the short-term market can hardly break through. Whenever the price rebounds toward the Bollinger Bands midline, it meets sell pressure and turns downward. After bulls attack, their momentum is severely insufficient. The Bollinger Bands’ channels are slightly opening downward overall, and the downward channel has already taken shape. The probability of a short-term pullback is relatively high. Going forward, the main idea for positioning is to lay out short orders with rebounds capped by resistance. Ethereum trading plan for early Tuesday morning: short around 1870-1880, target 1820

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$ETH On August 4, the U.S. Central Command said, at local time on August 3, that the U.S. military continues to strictly enforce the maritime blockade of Iran. As of that day, the U.S. military had changed the routes of 44 commercial vessels, causing 2 vessels to lose operational capability, and boarded and inspected 2 vessels.