The recent surge of Ethereum (ETH) at #ETH创历史新高 has been too intense, skyrocketing 600 points, pulling from 4290 all the way up to above 4888, igniting market sentiment in an instant.

Now it is retracing to around 4748 and consolidating, with many people staring at the screen, hesitant to take action: Is this a shakeout, or the precursor to a crash? There is no clear direction.

I believe:

4600-4700 is a key support level, while 4900-5000 is a recent resistance: bulls need to defend, and bears need to attack; this is a point of contention.

After such a sharp rise, emotions must be digested, and the enthusiasm of retail investors chasing highs needs to cool off through consolidation.

Coincidentally, it’s the weekend, with reduced capital, making it easier for the main players to use fluctuations to “wear down people’s spirits” and shake off impatient positions.

In my view: the short-term adjustment is a healthy pullback to build strength for the future; the trend is still bullish. The Bollinger Bands are closing, indicating a potential breakout soon, and a directional choice is imminent. Coupled with the overall trend, the probability of an upward breakout is high. Attention should be paid to Bitcoin's direction; if Bitcoin experiences a significant pullback, Ethereum will also struggle to stand on its own.

If it stabilizes at 4690 → 4730, the market will enter a secondary rally, and short-term capital can profit;

If it breaks below 4600, it may trigger a deeper pullback, and emotions may turn against us, with panic selling potentially causing a sharp drop.

Don’t fantasize about making a big profit at this position; trading with a light position, quick in and out is the right strategy. Let me remind you again, be sure to set stop-losses; this is crucial.

In summary:

4748 is consolidating; be patient and wait to determine the direction before making choices. This is the main players digesting the emotions after the sharp rise. Be patient for the direction, follow the rhythm, and small capital can also seize the opportunity for doubling.