Ethereum surged from 4200 to 4888 in one breath, pulling up by 680 points, and then quickly retraced to around 4700 to start consolidating.
Many people panicked:
"Is this the top? Or is the main force washing the盘?"
In fact, the more sensitive the position, the more calm we must be:
Why is it consolidating?
The turnover after the explosive rise
After a continuous surge, the short-term chips have made substantial profits, and the main force must consolidate to digest floating profits.
4700 key support
This is a dense area of previous chips; holding it means strong oscillation, and once it breaks below, a deeper correction may occur.
Weekend effect
The weekend funds are relatively light, and large funds will not easily push up, but are more likely to choose to consolidate to dissipate retail sentiment.
Two possible trends ahead
Strong continuation: If 4700 stabilizes, once the volume recovers next Monday, it is very likely to surge again, targeting 5000+.
Weak pullback: If 4700 is effectively broken, the market may first dip to 4500-4550 to confirm a more solid support.
Short-term players
Consolidate in the range above 4700, selling high and buying low, controlling positions, and avoid heavy betting.
Medium-term holdings
As long as it does not break 4500, the trend remains strong, patiently holding positions, and don't get shaken out by the oscillation.
Empty position and wait
Wait for a clear direction before following in, and don’t be fooled by the false moves during consolidation.
In a nutshell:
ETH is currently digesting sentiment, and the real big moves will wait until next week.
Consolidation is not the end, but the buildup for a new wave of market movement.
