After facing resistance at 4566 in the early hours, the Ethereum price experienced a slight rebound, followed by another resistance at the 4533 level. Currently, the coin price has undergone a significant pullback, testing the lows below 4340. The market sentiment is quite bearish, and the coin price continues to trend downward without showing any obvious signs of a rebound, merely consolidating at lower levels in a sideways manner. Therefore, future positioning should still follow the current main theme, focusing on shorting strategies.

From the daily chart of Ethereum, after the coin price refreshed the previous high of 4788, it quickly retreated with three consecutive bearish candles. After a slight rebound yesterday testing upwards, the coin price has once again started to retract this morning, and it is also approaching the last point of rise. The coin price has turned to form a bearish engulfing pattern, laying the foundation for continued retracement this week. From the four-hour chart, the coin price's retreat in the early morning provided a slight rebound that tested above the middle band but failed to stabilize. Subsequently, a large bearish candle quickly dropped to above the lower band, nearly engulfing all the space of the slow rebound over the weekend. Currently, the KDJ three lines are accelerating downward divergence, and the MACD energy bars continue to show negative values. The coin price still has further trends and momentum for continued retracement in the future. A bearish outlook is advised, and a high shorting strategy should be adopted to respond.
The big coin is shorting near 116300, focusing on around 115000. The second coin is shorting near 4380, focusing on around 4280.

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