$ETH price is $4404.6, with a 7.5% decline in the last 24 hours, and the market sentiment is bearish. From a technical perspective, the price has fallen below the key support level of $4450 on the 4-hour chart, and has once dipped near $4300, indicating a weakening short-term structure. The MACD indicator shows that both the DIF and DEA are negative, and the histogram is expanding, suggesting that bearish momentum is still being released, with no obvious divergence signals observed. The OBV energy indicator is also declining, reflecting signs of capital outflow and insufficient buying power.
In the short term, attention should be paid to the support strength in the $4300-$4330 range. If it breaks down with volume, it may further test the $4250 or even $4200 level. The initial resistance above is seen in the $4450-$4480 area, and stabilizing above this position is necessary to alleviate the downward pressure. Recent market volatility has increased, so it is advisable to control positions and be cautious about short-selling; one may wait for a lack of rebound strength before laying out short positions, or observe for rebound opportunities after the key levels stabilize. The medium to long-term trend still needs to be monitored to see if the larger level can hold above the $4200 platform.
