Currently, everyone is cautiously pursuing Ethereum. Last night, it broke through 3800 but did not stabilize, and after a drop below 3700 in the early morning, it rose again and then fell, now hovering around 3700.
The daily chart shows an upward trend encountering resistance at 3826 and then retreating, with weaker momentum for smaller rebounds; on the 4-hour chart, the price is under pressure at the upper band, and the market is weakening, with the MACD lines converging and seemingly about to turn down, while the KDJ is showing a bearish decline.
For today, it is suggested to go short first, in the 3770-3780 area, targeting 3650-3550. If the drop does not continue, then consider long positions.