August 12th early morning Ether ideas


Although Ether broke through the new high of 4370 again in the evening, it did not stabilize. Looking at the hourly chart, there was a rapid increase of 200 points in the 4-hour session last night, which encompassed the entire decline of Ether during the afternoon. However, after reaching the new high, the price quickly fell back, ending with an inverted hammer candlestick at a high level, and was also pressured by the upper line at 4336. Given the lack of results after multiple attempts to break through, the old advisor estimates that Ether will still face a pullback in the evening and continues to watch the support at 4160.
Trading suggestion: Enter short positions at the 4310—4330 line, targeting 4230—4200. Aggressive traders can enter at the current price, targeting 4200.
ETH-3.96%
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