ETH Latest Analysis: The latest price of ETH has reached around 4330, but it has not hit our short entry price of 4350-4380.

Currently, the pullback does not seem to be significant, and there are quite a few buying points below.

At present, the first phase is 4055-4000, the second phase is 3900-3880, and the third phase is 3700-3650.

These ranges are likely to rebound, especially near 4000. A rebound could potentially lead to an increase of 500-700 points, which means reaching 4460-4500 or up to 4800.

Around 4800, it might be the peak price of this wave, as 5000 is still relatively challenging, or requires extraordinary performance. This month could see a direct rise to 5000-5200, followed by a decline starting in September.

So, how should we operate now? Mainly focusing on long-term or larger ranges.

Currently, we are mainly looking at 4220-4250; if the upper range doesn't break through, then at this price, we can short one position with a 10%-20% allocation and reduce positions around 40500.

Then, if it reaches 3900-3800, we can hedge, and if it breaks through 4200 again, we can close the short.

Watch for 4500-4800, and then short again near 4800, and subsequently, we will see how it goes and act accordingly.