In the latest Ethereum price movement, we have observed a noteworthy change. The middle band has long been a difficult barrier to break through, but in last night's trading, this key point was finally breached.

This breakthrough is undoubtedly an important market signal, but we cannot easily conclude that a bearish trend has been established. The market's direction is often complex and variable, and we need to closely monitor the upcoming price movement, especially the reactions at some key support and resistance levels, to gain more directional guidance from the market.

Currently, the range between $4420 and $4450 may become an important support area for bulls to follow. If the price can hold steady in this range, we may see a rebound towards the $4700 mark. However, if this support area is forcefully broken, it could trigger further declines.

In this market environment, investors should remain vigilant and closely follow the price movement and changes in trading volume while managing risks effectively. Whether bullish or bearish, caution is required to avoid blindly chasing highs and cutting losses. At the same time, it is essential to pay attention to the broader dynamics of the cryptocurrency market and macroeconomic factors, as these could significantly impact the price of Ethereum.