Recently, the price of Ethereum has once again fallen below a key support level, triggering market attention on its future trend. Analysis shows that there are currently two possible directions for development:

First, the Ethereum price may rebound to the vicinity of the previous support/resistance lines, but then it may encounter resistance and fall back or enter a sideways consolidation phase. This situation is considered more likely to occur.

Another possibility is that if the price can effectively break through and stabilize above this key line, there is hope for a push towards the level of $4650.

From a technical perspective, the MACD indicator on the daily chart has formed a death cross, and coupled with the insufficient upward momentum in the earlier phase, these factors tend to support the occurrence of the first type of trend.

It is worth noting that Ethereum, as an important participant in the cryptocurrency market, its price trends not only affect itself but may also have a chain reaction on the entire cryptocurrency ecosystem. When making decisions, investors should closely follow changes in market sentiment and macroeconomic factors in addition to technical indicators.

Although there may be adjustments in the short term, in the long run, Ethereum, as the leading smart contract platform, still holds promise for its technological innovations and the development of its ecosystem. Investors should remain rational, manage risks effectively, and follow the long-term development trends of the industry.