From the current market perspective, the four-hour chart shows an alternating trend above the lower Bollinger Band, with neither side achieving an effective breakthrough, entering a consolidation phase of 'time for space'. However, it is important to note that the Bollinger Bands are continuously opening downward, and the price is also consolidating at a low level, overall remaining within a downward channel, with the trend structure leaning towards weak fluctuations. Hourly level: the Bollinger Bands are gradually narrowing, and the price volatility space continues to shrink. Although there was a short-term move above the middle Bollinger Band, it quickly retraced, and conditions for breaking the consolidation range are not currently in place.

It is recommended to short Ethereum around 4570, with a target of 4350-4200.