Ethereum (ETH) has recently attracted market attention due to its price movements. In the short term, ETH shows a slight bear market trend. The price has fallen below the short-term moving average and the volume-weighted average price, oscillating in the range of 3,640 to 3,670, leaning towards a bearish outlook. Investors may consider establishing short positions near 3,660, with a stop loss set at 3,680. If it breaks through 3,642, they can increase the position, with target prices set at 3,518 and 3,212.

The medium-term trend is also weak. Although ETH is still trading above the 200-day moving average, the short-term upward momentum is weakening, especially after retesting the lower boundary of the range. Investors are advised to be cautious of the key support level at 3,642, as a fall below this level may trigger further declines, with target price levels looking towards 3,395 and 3,142.

However, from the daily chart, ETH still maintains a medium strength bull market trend. The moving averages are in an upward arrangement. Although the Relative Strength Index (RSI) indicates overbought conditions, the long-term upward trend remains intact. Bullish traders may consider buying on dips around 3,600, with a stop loss set at 3,400. If it breaks through 3,900, they can increase the position, with target price levels of 4,200 and 4,500.

Overall, ETH is currently at a critical stage of the battle between bulls and bears. It may face retracement pressure in the short term, but the long-term trend remains positive. Investors need to closely follow the breakout of key price levels and flexibly adjust their position strategies. Whether going long or short, strict stop loss should be implemented to control risks. At the same time, attention should also be paid to the overall market sentiment and external factors that may impact ETH prices.

In the current complex market environment, it is particularly important to remain calm and rational. Investors should carefully formulate trading strategies based on their risk tolerance and investment goals. In addition, continuously following the development of the Ethereum ecosystem and technological advancements, as these factors may significantly impact the long-term value of ETH.