After a rapid rise yesterday, ETH has quickly retreated. Currently, a clear resistance zone has formed at the 3760-3820 range on the four-hour chart.

The current price has pulled back to the 3720-3760 support range. During the day, attention should be paid to the resistance performance around 3800. If the rebound encounters resistance, it may pull back again.

The key observation point is the strength of the 3720 support. If it effectively breaks below during the day, the downward target will look towards the key defense level of 3600.

If the market continues to weaken and closes with a large bearish candlestick, it may further explore the 3500-3600 support range before attempting to rebound against the resistance.