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Ethereum (ETH) has performed strongly recently, quickly rebounding after reaching 4160, breaking through the previous high resistance, and peaking at 4370. Currently, ETH is undergoing a second pullback after the surge.
The primary support level to focus on is around 4230. If this level can hold effectively, ETH may once again attempt to rally to 4350, or even challenge the 4400 mark.
However, investors need to be cautious that if the 4230 support is broken, ETH is likely to continue to drop to the 4150 support area. If 4150 cannot hold either, a pullback at the hourly level may follow, with an initial target range of 4050-4000.
In the current volatile market environment, closely monitoring the performance of these key price levels is crucial. Whether it's a breakthrough or a pullback, it could present opportunities for traders, but it also comes with risks. Investors are advised to manage risks effectively and adjust their strategies in a timely manner based on market changes.