August 19 Ether intraday analysis:

Congratulations to the friends who shorted at 4380, we can see around 4200 and even lower to 4160!

Ether's performance yesterday was completely in line with our target levels for consolidation. The live stream also guided everyone to trade at support and resistance levels. Ether rebounded around our target level near 4220, then dropped 50-60 points near 4305, and continued to rebound to what we believe to be the resistance level around 4380! During the live stream, we made nearly 200 points in profit by trading both long and short at key points.

Next, Ether is likely to test the lower position of 4160, which is the liquidation position for the bulls and also the support level of the previous low! If it effectively breaks below this level, it will reach around 4074, and in a more extreme case, down to 4000! Because the ETH/BTC trading pair has not yet retraced properly, more declines will occur! On the upper side, we still need to pay attention to the 4360-4380 range, which has repeatedly blocked upward movements. Unless there is significant positive news, the resistance will be at 4450-4500!

Resistance levels above Ether are 4380-4450-4500, and support levels below are 4160-4074-4000-3910! Today's trend is mainly bearish, and without any good positive news, the market is likely to move downward first before looking for a rebound! #ETH#