Ethereum is currently priced at $4280, with a 24-hour decline of 0.57%, briefly dropping below the $4200 support this morning. In the past week, it has risen by 21%, with a market capitalization exceeding $523 billion (surpassing Mastercard). Additionally, recent Ethereum ETFs have attracted a total of $6.7 billion in funds, and the proportion of long positions in the derivatives market has rebounded to 65%, indicating market bets on the upgrade expectations.

From the indicator information, the daily chart is still dominated by bulls, with daily moving averages in a bullish alignment, and the MACD showing strong upward momentum. The upper pressure of the Bollinger Bands has shifted to around $4400. On the four-hour chart, the K-line has been operating above the middle track of the Bollinger Bands, and the KDJ is also in a bullish upward trend, with the MACD green momentum beginning to expand. This is expected to accumulate energy for the next upward push.

Short-term long position operating range suggestion: Rebound to support at $4200-4230 (EMA60 + Fibonacci 61.8%), KDJ low position golden cross, stop loss at $4180, target $4300-4350.

Short-term short position operating range suggestion: Rebound to $4350-4380 under pressure, KDJ overbought (>75), stop loss at $4400, target $4300-4250.

Medium to long-term long position operating range suggestion: Increase positions upon breaking $4350, stop loss at $4300, target $4500-4800.

Medium to long-term short position operating range suggestion: Set up medium-term short positions upon breaking below $4200, stop loss at $4250, target $4000-3880.