Recently, the Ethereum market has shown a continuous upward trend with ongoing fluctuations, maintaining a pattern of hitting new highs followed by pullbacks. After breaking the 4100 threshold, a double divergence signal has appeared on the weekly chart, a phenomenon that market participants should closely follow. Looking back at history, we can't help but recall the high of 4380 set on May 12, 2021, which seems to be becoming a psychological barrier for this round of rebound.

Recently, Ethereum started a pullback as it approached the price level of 4330. Although the drop of about 180 points is not significant and has not breached the key support level of 4144, the technical pattern has already shown signs of a potential break below the ascending channel. This subtle change in market structure suggests that investors need to remain vigilant.

Currently, the market seems to be brewing the possibility of a double top. If Ethereum cannot break through 4380, there will likely be a new round of pullback pressure in the 4280-4310 range. However, only a drop below 4144 can confirm the formation of a pullback pattern. Therefore, in the short term, the 4144-4330 range may become the main battleground for range trading, and investors should closely monitor the breakout direction in this range.

For the current rebound market, a conservative strategy may consider looking for shorting opportunities in the 4280-4310 range, while closely monitoring the two key resistance levels at 4330 and 4380. This operational approach aims to capture the potential mid-term pullback structure.

It is important to emphasize that the cryptocurrency market is fraught with both risks and opportunities. The analysis above represents personal opinions and should not be regarded as specific investment advice. Each investor should carefully formulate their trading strategies based on their own risk tolerance and investment objectives. In this uncertain market, maintaining rationality and caution is crucial.