The Ethereum non-farm market continues to rebound, but unfortunately has not broken through the previous resistance area. Currently, it has reached the 4490 position and is under pressure again, with the trial position nearby also under pressure. Recently, the price has been operating around the 4320 position. During the day, this round of over a hundred points of long and short return has extended the previous range fluctuations. As long as the pullback does not break below the 4230 support line, it is expected that the market will enter a short-term consolidation. Therefore, everyone should not blindly look bearish and be cautious of a rebound within the range.

On the 4-hour level, a long upper shadow has appeared (4494.45→4280.44), accompanied by huge trading volume, indicating strong selling pressure in the 4500 area. The daily line has formed long lower shadows for three consecutive days (4252.47→4314.81), with a stage bottom support around 4230. The 4-hour level DIF and DEA have crossed below the zero axis, and the daily line histogram has contracted for seven consecutive days, indicating weakening bullish momentum. EMA: the price continues to be constrained by the 4-hour EMA30(4366)/EMA120(4371) resistance. The daily EMA7(4347) and EMA30(4279) have formed a death cross. Currently, the short-term trend is entering a consolidation phase, so our strategy is to short at high points and long at low points. The upper resistance to watch is around 4480-4530, and the lower support is around 4230.

Ethereum short-term support level 4200-4230
short-term resistance level 4600-4650