Brother, this position is actually quite crucial.
Ethereum surged by 680 points in one breath, reaching a peak of 4888. Such a level of explosive rise
itself carries a sense of emotional overextension. Now that it has pulled back to the 4700-4800 range and coincides with the weekend, trading volume will naturally shrink, and many people will choose to wait and see or engage in small-position speculation.
My view:
Consolidation is healthy.
After an explosive rise, it’s impossible to surge again immediately; the market needs to digest profit-taking around 4700, which means some are cashing out while others are seizing the opportunity to enter the market and switch hands. If it can stabilize in this range without breaking through, it may form a new accumulation.
Two signals to watch:
If trading volume continues to shrink during the consolidation period but the price does not break the key support level, that is highly likely a strong consolidation, and it will make another push later.
If there is a sudden increase in volume that pushes down and breaks directly through 4700, then be careful of further downside to 4500 or even lower.
Strategy suggestions:
Short-term: Light position speculation, watch the 4700 support level; if it holds, consider buying low; if it breaks, decisively cut losses.
Medium-term: Patiently wait for the consolidation to end, wait for the market to give direction, follow the main force instead of randomly guessing tops and bottoms.
Weekend trading is prone to volatility; don’t expect to feast on big profits all at once. Right now, the most critical thing is not the bulls or bears, but to closely monitor key positions, hold your ammunition, and wait for the next wave of direction.
