After the second contract broke through the historical high, it experienced a sharp drop and pullback. The daily price encountered resistance at the upper track, and the candlestick formed a pin shape with a long upper shadow. After the market opened, the downward testing trend continued.

In the short term, it is essential to focus on the support range around 4500 points, which also corresponds to the 7-day moving average on the daily chart, indicating strong support validity; at the 4-hour level, resistance needs to be observed in layers. First, pay attention to the immediate resistance near the 7-day moving average, and secondly, focus on the pressure situation below 4880.

In terms of operations, it is recommended to set up long positions in the range of 4480-4500 points, with the first target aimed at 4800 points. Subsequently, the position strategy can be adjusted based on the volume changes and market feedback when the price reaches the target. $ETH