Today, the price of Ethereum is fluctuating in the range of 3735-3640. The key resistance levels above are at 3700 and 3750, while the support levels below are at 3600 and 3550.

From a technical perspective, the four-hour chart candles broke through the upper Bollinger Band this morning and have started to continuously close bearish, now having fallen below the upper Bollinger Band position. The MACD red bars have also started to increase in volume, and the KDJ, after briefly entering the overbought zone, has begun to reduce momentum. The current state shows a death cross and a bearish downward trend, indicating that the price may see a pullback in the short term.

From an informational perspective, the Dencun network upgrade for Ethereum is approaching, which is expected to reduce Layer-2 transaction fees, enhance network efficiency, and boost market confidence. In addition, there is continuous capital inflow into spot ETH ETFs, tightening market liquidity.

Long position operation range suggestion: If the price continues to fall near 3600 USD and does not break below, there may be a tendency for a rebound. A long position could be initiated, targeting 3720 with a stop loss at 3575 USD.

Short position operation range suggestion: If the price retraces to the range of 3700 USD - 3720 USD and fails to effectively break through and hold above 3700 USD, a light short position could be attempted, targeting 3600 USD - 3640 USD, with a stop loss at 3750 USD.