Core watershed
4271 is the key watershed for judging the direction of the 4-hour market:
- Not stabilizing above this position → leaning towards a 4-hour level rebound (bullish logic);
- Breaking below this position → rebound fails and turns bearish (bearish logic).
2. Key resistance level above the watershed (rebound market) (resistance point)
If the price does not stabilize above 4271, pay attention to the gradually increasing resistance levels during the rebound:
- First resistance: around 4335 (the first target level for short-term rebound);
- Second resistance: around 4385 (strong resistance for medium-term rebound);
- Third resistance: around 4467 (the key suppression level for rebound space).
3. Key support level below the watershed (turning to a bearish market)
If the price breaks below 4271, pay attention to the gradually decreasing support levels during the decline:
- First support: around 4202 (initial support after short-term decline);
- Second support: around 4160 (important support for medium-term bearish trend);
- Third support: around 4110 (key defensive level for downside space).
Summary
This analysis focuses on 4271 as the core watershed, dividing bullish and bearish logic based on the signals of 'stabilization or breakdown' at this position:
- Bullish path: not stabilizing above 4271, testing upwards 4335→4385→4467 resistance;
- Bearish path: after breaking below 4271, testing downwards 4202→4160→4110 support.
Short-term trading needs to closely track the price movements at the watershed position, confirming the validity of signals with the 4-hour level cycle, and then developing corresponding strategies.$ETH #以太坊走势分析 
