ETH rose quite accurately this time. After breaking through 4240 in the evening, it reached a peak of 4377 in the morning, with an increase of 6.3%. This wave of increase has given a lot of holders and bulls confidence, but now the price has reached a critical level of 4370.

If it breaks through this level, the market may continue to rebound, targeting 4480-4520; if it doesn't break, 4370 will become a significant selling pressure point.

To be honest, in the long term, I am not very optimistic about it reaching 4800 this time, as the washout time and amplitude are insufficient, and the weekly level double pin formation is also not good.

For now, we can only take it one step at a time. Those who opened long positions yesterday without taking profit can raise their stop-loss prices a bit. Today's market will oscillate around 4370, either breaking through or falling below.