ETH's ETF sees billions of dollars in inflows daily. Ultimately, it's because there is too much active capital in the US stock market, with hot money spilling over into Crypto. The short positions in Ethereum are being liquidated very cleanly, and there are sporadic short liquidation prices around 3650. Without fuel for an increase, the rise is pretty much over. This time, Ethereum's rise happened when Bitcoin adjusted to 7000 dollars, and when Bitcoin's rebound was weak. This kind of movement reminds me of Bitcoin's rise above 100,000 earlier this year, with Ethereum rising to 4000, followed by a peak in the short-term trend. Don't chase Ethereum.

Intraday support at 3540 (to maintain strength, it must not break), 3460 (breaking this level increases adjustment intensity and declares the end of this unilateral rising market, entering an adjustment structure). As long as the trend hasn't ended and the market hasn't peaked, still maintain a light position and focus on buying the dips.