Ethereum has recently shown a strong rise trend, with the 4-hour chart displaying prices closely following the upper band of the Bollinger Bands, highlighting a market pattern dominated by long positions. However, there are some notable signals emerging from the technical analysis.

The Relative Strength Index ( RSI ) has risen to a level of 72, entering the overbought area, which suggests a potential technical correction in the short term. Investors need to remain vigilant at this time to avoid blindly chasing high prices.

In terms of support levels, $4680 is a key level. This is not only a support derived from previous highs but also an important defense line for the current long positions. If the price can gain effective support at this level, it may lay the foundation for subsequent rises.

In terms of resistance, the $4700 round number serves as a psychological pressure point. If this level can be effectively broken, it may open up new upward space for Ethereum, but typically there will be significant selling pressure before breaking through.

Overall, in the current market situation, investors should maintain a cautious attitude. A wise strategy is to patiently wait for opportunities to enter when the price retreats to the support area, and then consider entering the market. This not only reduces risk but also allows for better buying prices.

It is worth noting that the cryptocurrency market is constantly changing, and investors should closely follow not only the technical aspects but also the macroeconomic situation, regulatory developments, and significant industry events, assessing everything comprehensively before making investment decisions.