Hello everyone, today I bring you the latest market analysis and trading suggestions for Ethereum.

Ethereum is currently at $4610, down 3.07% in the last 24 hours, which can be considered a high-level correction. It briefly surged past $4957 to set a historical high in the early morning, but couldn't hold and quickly fell back below $4800, showing clear short-term pressure.

Key levels to remember: support is first at $4670 (24-hour low), more importantly at the psychological level of $4600, and further down at $4100-4200 which is a strong mid-term support; on the resistance side, $4850 is the previous high, to break through that we need to tackle the $4950-5000 zone first, and if it breaks, it might surge to $5300-5700. The dividing line between bulls and bears is $4780, and it can only continue the upward trend if it holds above that, which is clearly not the case right now.

The technical indicators are also quite interesting: RSI is around 65, not yet overbought, indicating that there is still room for upward momentum; however, MACD is different, the red bars above the zero line were originally expanding but have now turned negative, showing noticeable short-term correction pressure; KDJ has reached 87, in the overbought zone, so we need to be cautious of profit-taking pressure. The 4-hour chart does show an ABCD bullish harmonic pattern, if it breaks $5000 it can confirm a new upward trend, but it currently looks more like it's consolidating around $4700.

The trading suggestion is still to short, entering around $4620-4650, with a target first looking at $4570, and if it breaks down, then look toward $4500. Remember to set your stop-loss properly, don’t be careless. #ETH创历史新高