ETH Technical Analysis:

Ethereum has been continuously declining from its peak with increased volume, falling below the previous small platform support level of 4150 this morning, and probing the 4000 level, reaching the target as expected.

This round of decline has been accompanied by significant volume, reflecting the release of genuine selling pressure. After the MACD's death cross, it has continued to diverge downwards, with the bearish momentum histogram gradually expanding, and the trend remains bearish.

In the short term, attention should be paid to the strength of support at the 4000 level. If it breaks, it may probe down to 3960, but if it stabilizes, there is hope for entering a consolidation phase; further support below is at 3880.

The 4-hour chart shows a structure of oscillating downward movement, with rebounds occurring on low volume while declines have high volume, gradually moving lower.

For intraday operations, it is recommended to look for short opportunities in the resistance zone of 4190-4240, while focusing on support at 4080 and 3960.

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