On Saturday afternoon, the Ethereum (ETH) market showed some technical indicators worth following. From the 4-hour chart, the ETH price is currently supported between the moving averages MA144 and MA169. However, the MACD indicator shows that momentum is weakening, with the red histogram noticeably narrowing, which may indicate insufficient upward momentum in the short term.

If ETH cannot break through the key resistance level of $4590, we may see a wave of retracement. Investors should closely follow this level as it could determine the direction of the short-term trend.

For those considering trading, around $4530 could be a potential entry point. If the price can rebound to $4580, it may be worth considering increasing the position. However, if the market continues to weaken, $4430 and $4350 could become important support levels.

It is important to emphasize that the cryptocurrency market is highly volatile, and investors should conduct thorough research and risk assessment before making any decisions. Setting strict stop-losses is one of the key strategies for managing risk.

Overall, Ethereum may face some downward pressure in the short term, but as long as it can hold the key support level, the medium to long-term trend may still remain positive. Investors should stay vigilant and closely follow market movements and changes in important technical levels.