Ethereum hit the resistance level of 3750 in the early hours and then retraced to 3670 to confirm support. Currently, it has regained the key level of 3730, maintaining a complete upward structure at the 4-hour level. Technical indicators show: MACD remains in a golden cross state above the zero axis, and the price consistently operates above the rising trend line of 3650-3670, with healthy volume-price relations of reduced volume during pullbacks and increased volume during rebounds, indicating that the market is still dominated by bulls. Pay close attention to the breakout situation in the 3730-3750 range; if it stabilizes, it will open up new upward space to 3800-3850.
Key support and capital flow
A strong buying support has formed in the 3700-3680 area, with on-chain data showing a significant accumulation of about 120,000 ETH in large buy orders below this range. It is worth noting that Ethereum's exchange rate against Bitcoin shows signs of stabilization; if it breaks through the key level of 0.0315, it could trigger a stronger independent market. Currently, the retracement to the 3715-3730 range can be seen as a new entry opportunity, with 3690 forming an important defense level.
Operation strategy and risk reminder
For those holding long positions near 3700, it is recommended to move the protective stop loss to 3710, targeting 3750-3780 for partial profit-taking; those without positions can wait for a retracement to set up positions, with strict stop-loss settings. Be cautious of the volatility risk that may arise from the U.S. stock market opening; after breaking 3755, one can take small positions to chase long but must quickly lock in profits. Overall, maintain a strategy of buying on dips, and avoid counter-trend operations until the trend is broken. (Patience is more important than aggression in a volatile market.)
