Wang Pang talks about the situation of ETH, summarizing the key points for everyone:

The support level mainly looks at 4371-4400, which is the Fibonacci support, the position of the 4-hour EMA7, and there are large whales accumulating here; the resistance level is at 4650-4683, which is the area of concentrated trading at previous highs and also a zone where shorts can easily get liquidated.

Currently, the battle between bulls and bears is quite intense, and the amount of ETH in exchanges is decreasing, possibly because everyone prefers to hold onto it. However, if the bulls are too crowded, they should be careful of getting liquidated.

The short-term trend is slightly bearish with some volatility. The MACD shows that the bullish momentum has weakened, KDJ is neutral, and the price is fluctuating near the support, so we need to keep an eye on whether it can hold.

In terms of operations, for long positions, if 4400-4430 holds steady, one can try a small position, setting the stop-loss below 4380, with a target of 4550-4600; for short positions, if it rebounds to 4600-4630 and the price fails to move up (for example, if a long upper shadow appears), one can try a small short position, setting the stop-loss above 4650, with a target of 4500-4450.

Remember, no single trade should exceed 5% of total capital, and always set your stop-loss properly.

Also, pay attention to risks: changes in Federal Reserve policy, significant movements in whale addresses, large amounts of ETH being unstaked (more than 100,000 pieces in a day could crash the market), and if the support level breaks, the drop could be even faster.

Wang Pang suggests to take a small long position around 4365-4375, with a target of 4425-4495. Lastly, remember that the market is full of uncertainties, so it's important to defend and protect your capital above all. #ETH🔥🔥🔥🔥🔥🔥