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8.11 Ether second test of the peak, weekly divergence evening trend analysis
Over the weekend, Ether continued to maintain fluctuations, sustaining an upward structure, keeping the situation of new highs and pullbacks. After breaking through 4100, the entire weekly chart showed a double divergence. Looking back at history, there is also a high point of 4380 from May 12, 2021, and this rebound has started a pullback near 4330, with a pullback range close to 180 points, which is not large and has not broken below the key support level of 4144 established by the previous low. However, there are already signs of breaking below the rising channel in terms of the pattern.
During the day, there was a pullback. We have been maintaining a defense and positioning upwards from 4144. Currently, with the rebound, we can consider this as a double top formation. If a peak can be completed below 4380, then the rebound will fall within the 4280-4310 range. A pullback can only be established after breaking below 4144. Therefore, we can oscillate between the 4144-4330 range now and wait for a directional breakout.
Currently, we can consider the rebound to go down from the 4280-4310 position, defending above 4330 or 4380, to capture the entire medium-term pullback structure.
Disclaimer: The above analysis content only represents the author's personal views and does not constitute specific operational advice. Trading based on it is at your own risk, and investment carries risks; proceed with caution when entering the market.