Ethereum market review yesterday

Yesterday during the day, Ethereum as a whole showed a rebound after testing the bottom. After a morning test of the low point at 4310, it encountered a strong rebound of over 130 points. The subsequent trend fluctuated between the 4400-4450 range. The market began to surge in the evening, reaching a high point of around 4633 by 7 AM. It is currently in a correction phase after the surge.
Technical Analysis
From the 4-hour chart, it is currently rebounding after breaking through the lower Bollinger Band. After the three lines of the Bollinger Band opened downwards, they are about to tighten again. The market will enter a consolidation phase, with the three lines of the Bollinger Band corresponding to prices 4908--4615--4321. The hourly chart currently shows all three lines moving upwards, presenting a consolidating upward trend, but the market has weakened and is about to test the middle line of the Bollinger Band downwards.
The 4-hour chart MA indicator is currently showing a phenomenon of short-term and medium-term moving averages crossing each other. The hourly chart is showing a shift from bearish to bullish, but a full bullish advantage has not yet formed. At this time, the price is running below the medium-term moving average and above the short-term moving average, indicating a period of consolidation.
The MACD indicator on the hourly chart is in a golden cross moving upwards above the 0 axis, but the bullish energy bars have weakened. A golden cross is about to form on the 4-hour chart, but the fast line is still below the 0 axis in a bearish sentiment.
The RSI indicator is in the oversold phase and has formed a death cross downwards. However, in the 4-hour chart, it is in a normal trading phase with a golden cross moving upwards, but the buy line has flattened out.
Conclusion: The market is fluctuating and declining.
Resistance: 4630, 4680, 4750
Support: 4530, 4500, 4450
High-altitude strategy: A short position can be established around 4610, with a replenishment point at 4710, and a stop loss if it breaks and holds above 4750.
First take profit: 4530
Second take profit: 4450
Long position strategy: If it drops to 4430, you can establish an initial long position at this level, add more at 4330, and set a stop loss below 4300.
First take profit: 4500
Second take profit: 4560
After last night's rise, the bulls currently lack volume and are in a period of fatigue. Today's market can focus on short positions, but if it breaks below the main support level for the bulls, one can take advantage of a rebound to go long.