📢 Exclusive on Gate Square — #PROVE Creative Contest# is Now Live!
CandyDrop × Succinct (PROVE) — Trade to share 200,000 PROVE 👉 https://www.gate.com/announcements/article/46469
Futures Lucky Draw Challenge: Guaranteed 1 PROVE Airdrop per User 👉 https://www.gate.com/announcements/article/46491
🎁 Endless creativity · Rewards keep coming — Post to share 300 PROVE!
📅 Event PeriodAugust 12, 2025, 04:00 – August 17, 2025, 16:00 UTC
📌 How to Participate
1.Publish original content on Gate Square related to PROVE or the above activities (minimum 100 words; any format: analysis, tutorial, creativ
Recently, discussions about ETH have not diminished. Let's delve into the current market trends.
Currently, we are in the third wave of the ETH price increase. Looking back at the previous two waves, we can clearly see the development trajectory of the market.
The first wave of the increase started around 1400. At that time, the price touched the lower band of the monthly Bollinger Bands but did not accelerate downwards, which indicated a possible rebound to the middle band of the monthly line near 2750. Sure enough, the market then rose to the expected target.
The second wave of the rise started from 2200. The key to this market trend lies in the transition between bullish and bearish within a 5-day cycle. We observed that the middle track of the 5-day Bollinger Bands shifted from a death cross to a golden cross, indicating the rise of bullish forces. Ultimately, the price broke through the 3800 barrier.
Currently, we are experiencing the third wave of the rise. After breaking through the upper edge of the previous channel, it shows a typical pattern of retracement without breaking down and continues to push upward. According to the intersection of the Fibonacci 1.68 multiplier and the upper resistance line of the equal cycle speed, we can lock the target level of this wave at around 5850.
It is worth noting that the market trends change rapidly, and investors should closely monitor market movements and manage risks appropriately. How the future market will unfold, let us wait and see.