Recently, the Ethereum market has shown a significant rebound recovery trend. After hitting the bottom, the support strength has been remarkable, and the possibility of further downward movement in the short term is relatively low.

From the perspective of the weekly chart, after a series of consecutive bearish candles, a candlestick with a long lower shadow has appeared, which is a positive market signal. The rebound trend at the daily chart level is more evident, with the MACD indicator changing from green bars to red bars, and the length of the red bars continues to increase, indicating that bullish strength is continuously accumulating.

Technical analysis shows that the 3930-3970 range may become a strong support level, while 4200 is a potential target in the short term.

It is worth noting that the recent market has been influenced by multiple factors. The U.S. Securities and Exchange Commission (SEC) is pushing for regulatory innovation in cryptocurrency, which could bring new variables to the market. At the same time, the market is also closely watching Powell's latest remarks and the news that Michael Saylor may increase his holdings in Bitcoin.

Overall, the Ethereum market is currently in a relatively positive recovery stage, and investors need to continuously monitor market trends and relevant policy changes.