The latest market analysis shows that Ethereum (ETH) has successfully broken through the downtrend line on the 4-hour chart, accompanied by the formation of a golden cross pattern in the SKDJ indicator, suggesting that a short-term bottom may have been established. From a technical perspective, ETH is currently facing a potential rebound opportunity.

Investors should closely monitor the key support level of $4600. If this level can be effectively maintained, ETH is expected to break above $4700, and even challenge new highs.

From a larger time frame perspective, the channel support line around $4550 remains crucial. Market participants need to closely monitor the breakout confirmation signals on the 4-hour chart, which may indicate whether a larger trend reversal is about to happen.

Currently, the price movement of ETH is at a critical crossroads. The price direction in the short term will provide important clues for the long-term trend. Investors should remain vigilant, closely monitor market trends, and also pay attention to risk management.

It is worth mentioning that macroeconomic factors may also have an impact on the cryptocurrency market. Recent economic data may influence market sentiment to some extent, and investors should take these factors into account when making decisions.