This wave of Ethereum movement is crucial.
From the high point of 4770, it pulled back to 4560, dropping 210 points. You need to pay attention to a few points:
Trend background:
The overall trend remains bullish, it’s just a short-term surge and pullback to wash out floating positions.
Key support level:
A direct stabilization and rebound at 4560: If the support at 4560 holds, the market may gradually pull back to around 4700, and then test the previous high.
Continuing to drop before rising again: If 4560 is lost, it may drop to the 4500-4480 area to find a bottom before rebounding upwards.
If you want to go long, you can pay attention to whether 4560 can stabilize. If the candlestick shows a signal of stopping the decline, it would be safer to enter then.
For aggressive short-term trading: Try going long in batches between 4560–4580, with a stop loss set below 4520.
For a more conservative approach: Wait for confirmation to stay above 4620 before following in, with a target looking at 4700+.
If you want to wait for a lower position, then keep an eye on the support zone of 4500-4480, as that is the next relatively strong buying range.
