The Ethereum market is showing characteristics of continued inflow of institutional funds, and interest rate cut expectations may become an important catalyst for the subsequent market trends. From a technical perspective, the current price is running in the key resistance area of $4650-$4680, which has strong selling pressure.

Market sentiment indicators show that, although long positions still dominate, leverage levels are relatively high, and short-term pullback risks should be monitored. For trading strategies, the resistance area may provide some short-term trading opportunities, with support levels to watch below at $4580, $4460, and $4320.

It is important to remind that changes in macroeconomic policies may lead to increased market volatility, and investors should maintain a cautious attitude and reasonably control position risks.