The current trend of Ethereum ($ETH ) is running between strong support at 4000 and strong resistance at 4250, in sync with Bitcoin's trend. It has pulled back, rebounded, and then dropped again to a new low, with the upper pressure continuously moving down. The technical analysis shows that the 4-hour EMA 24/52 moving averages are continuing to widen and move downwards, with the price of Ethereum running below the short-term 24 and long-term 52 moving averages, forming a certain selling pressure signal. However, the candlestick pattern shows a bullish engulfing signal, but it has not received confirmation from trading volume, indicating a conflict in internal market signals.

However, a double top has formed at the 4-hour bottom, and at 8 PM, it closed with a long upper shadow candlestick pattern, with the closing line remaining above, forming a step-like rise, showing clear signs of a rebound. Additionally, the EMA 24/52 is forming a pressure zone near the 4280-4306 area, so attention should be paid to this resistance zone in the evening trades. For Bitcoin, pay attention to the pressure around 114600.