**Technical & Market Sentiment Overview:**

* **Price Action:** Ethereum $ETH recently pulled back from a high near $4,788 and is now trading around $4,603. Despite the dip, technical indicators still point to a bullish trend.

* **EMA Trends:** The 5-period EMA ($4,607) is above the 10-period EMA ($4,470), showing short-term bullish momentum.

* **Overbought Signs:**

The RSI is near 70, and the StochRSI is over 92 — both suggest ETH may be temporarily overbought and could cool off soon.

* **Momentum Strength:**

The MACD is still in bullish territory, with the DIF line (258.6) above the DEA (206.4).

* **Market Context:**

ETH recently hit its highest price in four years ($4,666), fueled by $500 million in ETF inflows on August 12. Based on valuation models like MVRV, some analysts see potential for a move up to $5,241.

**Important Price Levels to Watch:**

* **Support Zones:**

* Primary: $4,550–$4,600 (between key EMAs and recent lows)

* Secondary: $4,500 if the first support level fails

* **Resistance/Target Levels:**

* Near-Term: $4,650–$4,700

* Extended: $4,800, and possibly up to $5,241 if bullish momentum continues

**Suggested Strategy & Key Takeaways (Not Financial Advice):**

* **Entry Plan:**

Instead of buying at the top, consider gradually entering positions around the $4,550–$4,600 range.

* **Confirmation:**

Look for strong bullish candles with rising volume to confirm upward continuation.

* **Be Cautious:**

High RSI and StochRSI readings suggest the possibility of a brief pause or small pullback.

* **Manage Risk:**

Setting tight stop-loss orders just below $4,550 can help protect against quick reversals in this overextended setup.

**Summary:**

Ethereum's short-term outlook remains cautiously optimistic. The trend and momentum support potential gains, but overbought conditions may lead to a short pause or slight dip. Holding above the $4,550–$4,600 range is key — if that level stays intact, ETH could make a move toward $4,700, $4,800, or even $5,241. A drop below support, however, might lead to a temporary pullback to around $4,500.

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