From the perspective of wave analysis, Ethereum has reached the fifth wave's fifth sub-wave, and the fifth sub-wave has completed more than half of its journey.

From the RSI and MACD indicators, both the 4-hour RSI and 4-hour MACD have shown a top divergence, signaling a short-term overbought condition.

Overall, this upward movement since June 22 has reached its conclusion.

However, from the perspective of volume-price analysis, the fifth wave shows an increase in both volume and price, indicating that buying pressure remains strong. The fifth wave is likely to break through historical highs and may witness a buying frenzy in the final phase of the fifth wave.

Therefore, shorting should be approached with caution.