(Figure 1) Ethereum tested around 3700 upwards before facing pressure and dropping, with a minimum retracement to 3320, which is basically consistent with my expected target, only 20 points off.

Currently, the overall trend remains bearish, with the key resistance at 3520 on the short-term 4-hour level. It appears that there will be further pressure in the future.

Short near 3500, defend at 3535, looking down to 3300.