The analysis discusses Ethereum's price action on August 9th, noting a strong support level around $4000. The price previously broke through this level. The market may dip slightly before respecting the support and potentially rising, possibly towards $4200. The price is currently trading above $4200, specifically $4202. The analysis points out that the price faced rejection at a resistance level. The current trading price of Ethereum is consolidating around $4200. There is a resistance around $4220, from which the price faced rejection.