Recently, the Crypto Assets market has experienced a pullback, and the price of Ethereum (ETH) has also been affected. As of today, the trading price of ETH hovers around 4,424 USD, with a daily fall of about 3.6%. It is worth noting that in the past 24 hours, there has been a significant net outflow of ETH from Centralized Exchanges (CEX), totaling approximately 74,500 coins. Among them, Binance platform had the largest outflow, reaching 128,500 coins, while Bybit and Gemini experienced outflows of 14,200 coins and 1,943 coins, respectively. In contrast, Kraken platform absorbed 28,900 coins of ETH against the trend.

The market sentiment indicator shows that the current state is neutral but cautious. Compared to Bitcoin, Ethereum is performing relatively steadily, but still faces some downward pressure.

From a technical perspective, the key resistance levels for ETH are currently at $4,600 and in the $4,840-5,000 range. The support levels below are at $4,380 and $4,100, respectively. Various technical indicators such as RSI, MACD, and Parabolic SAR are showing a short-term bearish trend, and both the 4-hour and daily charts indicate a cautious stance.

ETH once pulled back to around 4,715 USD, and currently, 4,700 USD constitutes an important support level, with a secondary support range of 4,530-4,270 USD. The RSI indicator is currently around 39.8, and the MACD is forming a bearish crossover. If it cannot hold above 4,500 USD and the 14-day moving average support, ETH may further drop to 4,100 USD.

Despite the adjustment pressure in the market in the short term, some analysts hold a cautiously optimistic attitude towards the medium-term outlook. Predictions suggest that by August 31, the ETH price is expected to rebound to around $4,853, indicating a potential uptrend in the next 5 days.

However, investors should remain vigilant about market volatility risks and closely monitor key factors affecting ETH prices, such as macroeconomic factors, regulatory trends, and network upgrades. It is advisable to conduct thorough research and risk assessment before making any investment decisions.