On August 14th, the Ether factory returned to the vicinity of $1875 and failed to stand at the critical juncture of $1900. Despite the net inflow recorded for the fifth consecutive week by the United States-based ETF, the buyout was not enough for the time being to push prices out of the current shock zone.

$1,900 above the pressure's still on.

Data on the disk show that ETH fluctuated between US$ 1869 and US$ 1891 on that day, with a small drop in the day. After a rebound of about US$ 1550 at the end of June, the price was close to US$ 1980 in late July, but none of the most recent trips to the top of US$ 1900 had been able to form an effective support.

The market is currently characterized by the fact that there is still a buy-in in the vicinity of $1850, but each time a rebound approaches an area of $1900 to $120, the pressure on sales increases significantly, leading to a continued movement within a narrow range.

Clear the hot zone on both sides.

The CoinGlass one-week settlement heat seeks to show that there are more intensive areas of liquidity above the current fare of the Taifeng, of which US$ 1925 and between US$ 1940 and 1950 are most evident. If ETH re-positioned at $1900 and continues to move, the empty silos in these areas may be subject to silo pressure, thereby magnifying the rebound.

However, there is also active liquidity in the vicinity of $1855 to $1860, and there is a larger settlement zone in the vicinity of $1835 to $1845. This means that once $1850 is lost, multiple positions may be passively flat, priced or tested again in the vicinity of $1840.

  • Main liquidation area above: US$ 1925, US$ 1940 to 1950
  • Main liquidation areas below: $1855 to $1860, $1835 to $1845
  • The market is still in a two-way leverage position.

Weak technical indicators but medium-term rehabilitation

From the solar line, the ETA short-line signal is neutral. The relative strength and weakness index RSI is 49.72 below the neutral line of 50 and below its mean signal value. At the same time, ETH is still running below the 20-day average of $1881 and the 50-day average of $1893, which largely overlaps with the recently rebounded area.

However, the price was still above the 100-day average of $1825, which indicates that the medium-term rehabilitation movement, which began at the end of June, has not been completely destroyed. In the event of a subsequent fall of $1850, the importance of the 1825 to 1840 area would increase further. In the longer term, the 200-day mean line is at $2025, indicating that the ETH still does not reverse the larger lower structure.

The continuous inflow of ETFs has not led to a breakthrough.

SoSoValue data show that US FETF recorded a net inflow of $245 million during the week of August 3-7, and has maintained a net inflow for five consecutive weeks. Of this amount, Belet ETHA attracted about $203 million, FETH net inflows about $24.2 million and greyscale ETHE about $4.8 million net outflows.

The continuing inflow of institutional funds indicates that the ETA is still being allocated through compliance channels, but this demand is not yet sufficient for the time being to absorb the $1900 to 1950 sale boards. For short-term trends, the continued carrying of off-the-shelf funds remains a key factor in the exit of prices from the current zone.