Ethereum trading strategy for the evening of Thursday, August 21

From the 4-hour chart of Ethereum, it is at the tail end of a rising volume. This kind of volume increase at the wave tail generally lacks sustainability and often results in a washout trend of step-by-step pullbacks. Yesterday saw a retracement, and today’s early session quickly surged, followed by a large bearish candle on the hourly chart for a retracement correction, as it pulled back at the local high point of 4400. Due to the large fluctuation base, the adjustment space is uncertain. For short-term trading in the evening, if the support level can be maintained, one can go long at a low position; if the support is broken, the trading strategy needs to be adjusted.

Ether trading strategy: Go long near 4230-4190, target towards the 4355-4400 area. $ETH