Observation of the daily chart at the second level: Although buying pressure is still trying to push higher, momentum indicators have shown a divergence, suggesting that the bullish momentum is slowing down;
Trading volume is also contracting, indicating insufficient willingness to chase higher prices. The bears are continuously increasing positions near key resistance levels, creating a close confrontation between bulls and bears, resulting in a tug-of-war balance;
If a breakout cannot be achieved in the short term, prices are likely to pull back towards the densely traded area below to digest the dual pressure of profit-taking and trapped positions!
Personal trading advice: Aggressive traders should short above 4520, while conservative traders should short near 4550, targeting 4420, 4300, and 4250! $ETH