From a technical analysis perspective, ETH has been following the trend line, which is especially clear on the 4-hour chart. The recent breakthrough shows the upward momentum of the stock price, especially after the key level of 3480u was broken.

However, ETH may encounter important resistance near 3700u, which may cause the price to retrace to about 3230u, thus posing a challenge for further gains.

For investors who want to use ETH's potential rise to solve the problem, implementing a bullish strategy may be a favorable choice.

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