Recently, the Ethereum (ETH) market has shown a significant pump trend, starting from a low of $4412, with prices continuously rising and demonstrating strong rising momentum. Although during the pump, the forces of bulls and bears alternately dominated, the overall price center continued to move upward, ultimately reaching a high of $4793.

Currently, the price of ETH is fluctuating around $4750, reflecting a certain divergence among market participants regarding this price level. This divergence may stem from differing opinions among investors about the future development prospects of Ethereum, as well as differing judgments on whether the current price has fully reflected its value.

From a technical perspective, the range of $4700 to $4750 may become a key support area in the short term. If this range can be maintained, ETH is expected to continue to break upwards, with the next important target possibly around $4850. If it can break through $4850, the market may turn its attention to the psychological barrier of $5000.

However, investors also need to be wary of the potential pullback risk. If the support level of $4700 is broken, it may trigger a short-term adjustment. In this case, investors may need to reassess the market trend and adjust their strategies accordingly.

Overall, Ethereum's current market performance shows relatively strong rising momentum, but it also faces certain resistance as it approaches the $4800 threshold. Investors need to closely monitor market dynamics, manage risks appropriately, and adjust their strategies in a timely manner based on price trends.