Ethereum (ETH/KRW) is trading around ₩4.694M after rebounding from the ₩4.4M area, which marks an early bounce and tentative reversal attempt within a broader downtrend. Price has moved back into the Ichimoku cloud, with the daily 5/10/20‑day moving averages starting to turn up and MACD lifting off its recent lows, indicating improving short‑term momentum rather than a confirmed trend change.

The zone around ₩4.8M–₩5.0M, where the cloud top and the 60‑day moving average overlap, is a key resistance area that will help reveal whether this move is just a relief bounce or the start of a more durable shift; a sustained move above this band would typically be read as the market leaning toward a neutral‑to‑constructive trend. Conversely, the ₩4.4M–₩4.5M region near the cloud base and recent lows remains an important support area: a clean break back below it would suggest that the current recovery attempt is weakening and that a deeper pullback toward prior lower ranges is back on the table.

Bitcoin staying relatively stable around the $80K band and a calmer backdrop for Venezuela‑related geopolitical risk would generally make it easier for ETH to hold above support and challenge the upper band of the cloud, while a broader risk‑off move or a sharp BTC drop toward lower tens of thousands could add pressure on ETH and increase the likelihood of another test of the ₩4.4M area. With higher‑timeframe 60/120‑week moving averages still pointing down, ETH is better described as being in a short‑term recovery phase inside a longer‑term downtrend, so any new entry would typically call for keeping position sizes modest and deciding in advance how to respond if the lower support band gives way, rather than assuming a full trend reversal is already in place.