Ethereum (ETH) has shown concerning market performance recently, displaying an overall short positions trend. There are no clear reversal signals on the four-hour chart, which keeps investors cautious.

The current market dynamics resemble a natural recovery after a decline rather than a true rebound. The key resistance range is between 4350 and 4450. If ETH cannot effectively break through this area, it is likely to continue downward after a brief rise, which could be a bull trap.

It is worth noting that if ETH breaks below the support level of 4190, short positions may further strengthen. In this case, the next target price range may drop to between 4000 and 4050.

The current rebound seems to be more a technical correction after an oversold condition, rather than a trend reversal driven by fundamentals. For short-term traders, it may be advisable to wait for ETH to rebound to a resistance level and confirm before considering short positions.

Investors should closely monitor two key price levels: the support level at 4190 and the resistance level at 4450. Once these key levels are broken, the market may experience a new round of trend changes.

Overall, the ETH market is still in uncertainty, and investors need to stay vigilant, closely monitor market trends, and manage risks effectively.