$ETH current price buy long, stop loss 4490, take profit looking at 4580 breakthrough looking at 4650-4730

🔥🔥Let's review yesterday's US stock market performance. The three major US indices were generally weak and volatile: the Dow Jones Industrial Average closed slightly lower, while the Nasdaq and S&P 500 dipped, dragged down by tech stocks. Market concerns remain over the Federal Reserve's interest rate policy and economic data, and risk appetite has cooled. Funds are clearly on the sidelines in the US stock market, and tech growth assets are under pressure. This has also exerted ripple pressure on the crypto market, especially mainstream coins like ETH and BTC, leading to insufficient bullish momentum and price volatility.

$ETH Ethereum Market Today: Prices are hovering between $4,500 and $4,550. The Bollinger Bands are closing, indicating that the market is gathering momentum to choose a direction. The MACD bearish momentum has diminished, but has not yet fully strengthened. In the bull-bear game, the $4,500 mark below has become key support. If it holds, a volatile rebound is expected; otherwise, it will test $4,350.

Macro: Continued weakness in the US stock market will weaken risk appetite, making ETH vulnerable and increasing the probability of a volatile correction.

Technical Analysis: A break above 4500 could lead to a potential push towards 4600-4700. A break below 4500 could result in a rapid decline to the 4350-4400 range.
Trading Strategy: Conservatives: Wait for a break above 4600 before going long. Aggressives: Watch for trading opportunities around 4500. If support holds, position for a rebound with a light position and maintain a strict stop-loss.

Chu Ge's Summary: Last night's weakening US stocks dampened risk sentiment in the crypto market. ETH is currently locked in a tug-of-war at the critical $4500 level. Short-term volatility is expected, with medium-term direction depending on whether it can break through 4600.

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