The lower edge of the ascending wedge on the 4-hour level for ETH has been confirmed, with the price rebounding precisely after touching it. It is evident that many market participants are paying attention to this trend line.
If the pullback here can hold, it is entirely possible to set a new high this weekend or next week.
However, if it breaks down and a low below 4300 is established, the large-scale bullish structure will be damaged, and the market will shift into a large range of fluctuations.
For the intraday rebound to the 4470-4500 range, go short with targets at 4400, 4310, and 4200.
