Recently, the Ethereum (ETH) market trend has attracted the attention of investors. From the 1-hour Candlestick Chart analysis, ETH has formed a top formation. Combined with the belt hold pattern, it indicates that the short-term upward movement faces significant pressure. The range of 4530 to 4550 dollars constitutes a strong resistance level. To break through this threshold, it may require a period of pullback adjustment to accumulate strength.

Multiple technical indicators show that ETH's current upward momentum has weakened. Market participants are closely following two key price levels: if ETH can break above $4550 during the day or break through the $4580 resistance level on the daily chart, the possibility of a further push above $4700 will significantly increase. Conversely, if it fails to break through these key levels, ETH may be pressured to fall back to the support level around $4400-4410.

For trading strategies, some analysts suggest considering going long in the range of $4385 to $4350. If the price dips to $4335, it may be considered to add to positions, with an upward target price of $4600. However, investors should note that the cryptocurrency market is highly volatile, and trading decisions should be made cautiously, with adequate risk management in mind.

It is worth mentioning that the cryptocurrency market has recently shown a trend of rotation in the rise of mainstream coins. This phenomenon reflects the characteristics of capital flow in the market and provides investors with diversified opportunities. However, it also means that market sentiment may be somewhat scattered, and investors need to be more vigilant about sudden changes in market trends.

Overall, Ethereum's short-term trend is at a critical position, and both breakouts and pullbacks will have a significant impact on the market. Investors should closely follow price movements, manage risks wisely, and adjust strategies flexibly.