Ethereum cautiously seeks long positions. Last night it broke through 3800 but couldn't hold, falling below 3700 in the early morning before rebounding and then dropping again, currently hovering around 3700.

The daily chart shows an upward step that met resistance at 3826 before retreating, with small-scale rebound momentum weakening; on the 4-hour chart, the price is under pressure at the upper band, and the market is weakening. The MACD double lines are converging, seemingly about to turn down, while the KDJ shows a bearish downward trend.

For today, it is recommended to take short positions first, shorting in the 3740-3770 range, with a target of 3650-3550. If the drop does not continue, then consider long positions.