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Recently, the Ethereum market has shown a positive long positions trend. The four-hour chart indicates that Ether is experiencing a slow pullback, which provides opportunities for short-term traders.
For investors considering short positions, attention can be focused on the price level around 4200 for operations. However, it is worth noting that the overall trend still leans towards long positions, so excessive bearishness is not recommended.
The market is experiencing a pullback in the fourth wave of Elliott Wave Theory, and it is expected to present an ABC pattern. Investors should closely watch for signals indicating the end of this pullback to prepare for the potential rise of the fifth wave.
From a technical perspective, the peak of the first wave is around 3740. Long positions still have opportunities to advance, as long as the pullback of the fourth wave does not drop below this level. Although the market is still in a bullish trend, it is advisable for investors to remain cautious and pay close attention to market changes.
Overall, the current Ethereum market still has potential for growth, but investors need to remain vigilant, closely monitor market trends, and adjust their trading strategies in a timely manner. Whether for short-term or long-term investors, wise decisions should be made based on individual risk tolerance and investment objectives.