After Ethereum reached a new high, it had a proper pullback before another surge. At this position, there are probably quite a few stubborn brothers caught at a high level.
After breaking 4000, it experienced a slight pullback before rising again to the current 4050. It is still above the 4-hour MA7 and remains in a strong phase. If it can smoothly digest the selling pressure and stabilize, the next target will be around 4120.
Overall, Ethereum's performance is stronger than Bitcoin's, with shallow pullbacks and stable increases. Therefore, it's advised not to easily take a short position. Another important factor is that tomorrow, the weekend will enter a low liquidity phase. Compared to Bitcoin, if the market remains optimistic, Ethereum is likely to continue rising over the weekend.
However, do not easily take a short position, especially since Bitcoin has not shown a significant pullback again. If considering a short position, it should be after the market stabilizes emotionally.
