September 3 Crypto Mr. Coin: Ethereum (ETH) Market Analysis Reference
From the current daily chart level for Ethereum, it has now retreated to the 2400 range and is consolidating. The daily indicators have started to turn, and short-term upward momentum has weakened. Now is a phase of consolidation after a strong rally, with focus on whether support near 2400 can hold. On the four-hour timeframe, the range characteristics are more obvious, with resistance concentrated near 2500 above and support around 2355 below. Recently, price has been repeatedly swinging within the range, with neither bulls nor bears establishing a clear direction. Currently, the market is in a consolidation and correction phase. Capital net inflows are still present, indicating there has not been large-scale exit; it's just that bulls are temporarily taking a break in the short term.
On the short-term chart, after testing the low at 2355 yesterday, there was a small rebound and correction. Short-term indicators have warmed up, and short-term bulls are trickling back in, but overhead resistance is becoming apparent nearby. Currently, the short term is in a weak rebound stage; whether Ethereum can regain strength depends on whether it can stay above 2430. If it holds above this level, there's a chance for another attempt upwards. If the rebound lacks strength, it will retest lower support levels again.
September 3 Ethereum Short-term Reference:
Go short above 2480, target below 2430,
Go long below 2380, target above 2460,
