Ethereum (ETH) has shown a bullish trend recently, but several warning signals in the market indicate that the upward momentum may soon weaken. Currently, the ETH price remains above the moving averages, and the moving averages are in a bullish arrangement, providing certain support for the longer. However, the significant shrinkage in Trading Volume and the divergence between price and volume, coupled with the evening star pattern appearing on the technical charts, all suggest that ETH may face a risk of correction in the short term.

At the same time, the Relative Strength Index (RSI) has entered the overbought territory, and the ETH price is also approaching the upper Bollinger Band. These factors may limit its further upward potential. Considering the overall performance of these technical indicators, market participants may need to remain cautious and pay attention to potential pullback opportunities.

Analysts suggest that investors can closely monitor the support level in the range of $4665 to $4680, which may present a potential buying opportunity. If ETH can hold this range and regain upward momentum, the next important target price may point to around $4860.

However, investors should also be aware that the cryptocurrency market is highly volatile, and any investment decision should be based on comprehensive market analysis and individual risk tolerance. In the current market environment, maintaining vigilance and flexible trading strategies is particularly important.