Recently, Ethereum has shown a clear wave pattern on the 4-hour chart. After an initial rally, the market formed a triangle consolidation pattern through waves 1, 2, and 3, with waves 2 and 3 accompanied by upper and lower pinning, and wave 5 dropping rapidly. This kind of movement is quite common—bullish momentum diminishes with each wave. The key now is whether it can break through directly or if it will fall below the previous low. Many traders have set up dense long positions below, but this area doesn't need to be chased too aggressively; it's more about waiting for a clear direction. The strength of the support level will directly determine the subsequent pace.