Core Watershed
- Position 3805 (4-hour level): It is a key point for assessing the strength of the small-scale rebound in Ethereum and the subsequent market direction. If the 4-hour level cannot stabilize above this position, the rebound will be weak; if it stabilizes, the rebound momentum will be confirmed, and the market is expected to continue to rise.
Support and Resistance Levels
- Resistance Level (after stabilizing at the watershed): If it stabilizes at 3805, you can pay attention to 3841, 3876, and 3908 above in sequence, which are the phase targets for the upward rebound. You can consider light positions to attempt shorting around these levels.
- Support Level (when not stabilizing at the watershed): If 3805 cannot hold, the first support level below is around the previous low near 3755. If it does not break, there may be a rebound at a smaller scale; if it breaks, further declines will initiate, and you can continue to pay attention to deep support levels around 3713 and 3681, where you can consider light positions for long entries.
Summary
3805 is an important benchmark for today's Ethereum market. Whether the 4-hour level can stabilize at this position will determine whether the market continues to rebound or initiates a downward trend. In terms of operations, attention should be paid to the breakthroughs around this watershed point, corresponding to the gains and losses of key points above and below, while also noting that the cryptocurrency market is highly volatile, so light positions should be taken and risk control should be implemented.$ETH #以太坊走势观察 
