According to the latest Ethereum market data, there have been some notable changes worth following. The 15-minute Candlestick Chart shows that although the moving averages have initially formed a bullish arrangement, the price has retreated from a high of $4449. Currently, the trading price of Ethereum has fallen to $4414, breaking below the previous support level.

This trend indicates that the upward momentum of Ethereum is weakening in the short term, and the market may face adjustments or continue to decline. The overall trend seems to be developing towards a range-bound bearish direction.

For traders, the range between $4450 and $4480 may present a potential shorting opportunity. If this assessment holds, the price of Ethereum may drop to $4370, and might even further decline to the level of $4250.

However, investors should bear in mind that the cryptocurrency market is volatile, and any predictions carry uncertainty. It is recommended to closely follow market trends, manage risks appropriately, and make decisions based on individual investment strategies. The market performance in the coming days will provide us with more clues about the Ethereum trend.