Recently, Ethereum has reached a new high, attracting widespread attention in the market. Although it may face a pullback in the short term, the bullish trend still dominates from the daily chart perspective.

From a technical analysis perspective, the daily candlestick chart shows that the price of Ethereum has risen from the middle band of the Bollinger Bands to near the upper band. Meanwhile, the MACD indicator continues to show a golden cross and exhibits a strong upward trend, all of which suggest that market sentiment leans towards optimism.

Considering the current market dynamics, investors may need to reassess their strategies. Although there may be a pullback in the short term, the overall trend remains optimistic. For investors looking to enter the market, the price level around 4700 can be seen as a potential buying opportunity, while the short-term target price can be set near 4900.

However, it is worth noting that the cryptocurrency market is highly volatile, and investors should proceed with caution and manage risks effectively. At the same time, it is important to closely monitor market news and regulatory developments, as these factors may significantly impact the price of Ethereum.

Overall, although there may be fluctuations in the short term, the long-term development prospects of Ethereum remain promising. Investors need to comprehensively consider various factors such as technical aspects, fundamentals, and market sentiment when formulating investment strategies.