Ethereum is currently around 4300 today, which is both a previous resistance level and a strong short-term support level. In simple terms, the competition between bulls and bears at this position is extremely intense.
Daily structure: ETH is still in an upward channel, with the next high point in the range of 4450-4500. Once it breaks through, it is expected to open up a new round of upward space.
Capital situation: Institutional funds have recently significantly increased their positions in mainstream cryptocurrencies, with ETH as the second-largest, showing strong capital support. A stabilization around 4300 will be an important signal.
Short-term sentiment: The market is experiencing significant fluctuations, and retail investors chasing after the rise can easily get washed out. Cautious investors should grasp the rhythm.
Short-term strategy:
The range of 4300-4250 is a balance zone between bulls and bears. If it stabilizes, short-term long positions can be entered, with a target of 4400-4450.
If it breaks below 4250 and goes down with increased volume, decisive stop-loss should be taken, and wait to re-enter around 4200-4150.
