ETH Technical Analysis:

On the daily chart, Ethereum started an upward trend from a low of 2317, reaching a high of 4956 USD.

Recently, it has been fluctuating around 4600, with 4800–4950 being a strong resistance area above. The short-term key support is located at 4400; if it breaks below, it may further revisit the 4200 level.

It is expected that in the short term, it will maintain a range-bound pattern between 4400–4800, with funds clearly engaging in battles at the support area.

The MACD fast and slow lines have formed a death cross, and after the green bars have decreased in volume, they have slightly narrowed. If the price holds above 4400 and a strong bullish candle appears, the MACD may form a second golden cross.

The short-term moving averages MA7 and MA14 constitute overhead pressure, indicating a weak short-term trend, while the mid-term moving averages MA30 and MA60 still maintain an upward trajectory, with a long-term trend remaining bullish.

The short-term trend on the 4-hour level is also weak.

Daily operation suggestion: Pay attention to short-selling opportunities in the upper pressure range of 4630–4680, and focus on the support area of 4460–4410 below.

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