The analyst discusses Ethereum's current position on the daily chart, noting it's holding below a breakout point of $4850-$4950. A decisive break above this range could lead to upside targets around $5800 to $6400. The analyst points out that recent rallies have been corrective, not impulsive, and there's no confirmation of a major rally yet. A wave four pullback is possible. Support levels are highlighted at Fibonacci levels of $4061, $3665, and $3374, as well as moving averages. The analyst also examines Ethereum dominance, suggesting a pullback with potential support between 11.3% and 13.1%, with a possibility of further decline.