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NEW: LAYERZERO PROPOSAL TO ACQUIRE STARGATE PASSES WITH 94.76% APPROVAL

The Ethereum (ETH) market has experienced significant fluctuations recently, attracting close attention from investors. Analyzing the one-hour Bollinger Bands shows that short orders are gradually entering the market, while the medium term Bollinger Bands still have support. The market focus is on the potential support level near $4700. Although the trading volume is relatively coordinated with the price trend, selling pressure is quietly increasing, which may indicate that the market is about to face pressure. Therefore, it is currently not advisable for investors to aggressively establish long positions. Intraday trading strategies tend to favor short positions at high levels, but it is essential to set reasonable stop losses to control risk. For experienced traders, consider establishing short orders around 4780 dollars, and closely monitor the resistance level in the 4800-4820 dollar range, appropriately positioning small short orders. Overall, the risk of long orders is relatively high in the short term. It is recommended to use short orders as the main strategy, especially near the Bollinger Band resistance level in the range of 4780-4820 USD. However, regardless of the strategy adopted, strict risk management is crucial, and reasonable stop-loss and take-profit levels must be set. The market is constantly changing, and investors should remain vigilant and adjust their strategies in a timely manner. This article's analysis is for reference only, and actual trading decisions should be made based on individual risk tolerance and real-time market conditions.