Recently, the Ethereum market has experienced significant fluctuations, dropping sharply from $4794 to $4224 within just a few days, with a decline of as much as 570 points. Such drastic price changes are not uncommon in the Crypto Assets market, but they still attract a high level of attention from investors.

The market originally expected a rebound after the significant fall, attempting to break through the 4400 USD mark. However, the reality is that the price only rebounded to around 4385 USD before facing downward pressure again. This trend indicates that current market sentiment remains cautious, with limited buying power.

From a technical perspective, Ethereum is currently in a relatively clear trading range. The upper level of $4400 constitutes a short-term resistance level, while the lower level of $4200 is a strong support level. This range-bound fluctuation may continue in the short term, reflecting significant divergence among market participants at the current price level.

Although it may maintain a weak consolidation in the short term, many analysts remain optimistic about Ethereum in the long run. They believe that the current pullback may lay the groundwork for further increases in the future. However, it cannot be ruled out that a second bottom may occur before the rise.

For traders, the current market environment brings both opportunities and risks. Shorting in the range of $4385-$4350 may be a strategic choice, but it is essential to closely monitor the resistance level near $4460. If this level is broken, timely stop-loss may be required. The target price below can focus on around $4300, $4260, down to $4200.

It is worth noting that the inherent high Fluctuation of the Crypto Assets market means that prices can change quickly and dramatically. Therefore, investors need to remain vigilant when formulating trading strategies and manage risks appropriately. At the same time, it is also important to follow factors such as the macroeconomic environment, regulatory policies, and technological developments, all of which may have a significant impact on the price trend of Ethereum.