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The latest market update for Ethereum (ETH) shows that its price is encountering resistance around $4600, resulting in a slight adjustment. However, the overall market sentiment remains positive, with a significant amount of capital continuously flowing in, and ETH is expected to continue its upward trend in the short term.
Currently, ETH is gaining strong support in the range of $4400 to $4500. If the price retraces to this area, it is likely to attract buyers. The resistance level above is located at $4800 to $4900, and once this area is broken, it may trigger a new round of upward momentum.
Recently, the Federal Reserve's decision to lower interest rates has increased market risk appetite, significantly boosting ETH trading activity, with a 24-hour trading volume reaching approximately $4.747 billion. At the same time, the participation of institutional investors is also continuously rising, and these factors may drive the ETH price further upward.
Many well-known institutions hold an optimistic view on the prospects of ETH. Fundstrat analyst Mark Newton believes that the pullback around $4,375 provides a buying opportunity, and expects ETH to rise to $5,500 in the near future. Citigroup predicts a year-end price of around $4,300, while Standard Chartered has given a more optimistic target price of $7,500.
For investors, it is advisable to consider a gradual accumulation in the range of 4400 to 4500 USD for the short term, with a stop-loss set at 4200 USD and a take-profit target of 4800 to 5000 USD. For medium to long-term investors, a gradual layout is recommended, holding until the end of the year, with a reference target price of 5000 to 5500 USD.
Overall, ETH may fluctuate in the range of $4400 to $4500 in the short term, but in the medium to long term, it is expected to benefit from continuous inflow of institutional funds and improvement in market sentiment, maintaining an upward trend. Investors should closely monitor market movements, manage risks appropriately, and seize potential investment opportunities.