After a pin on the small scale, Ethereum returned to the lower edge of the upward channel. Although it briefly fell below, it quickly recovered, showing that the buying interest remains strong. Coupled with Bitcoin breaking its historical high, this has driven ETH to gradually catch up. Therefore, ETH still presents a strong bullish trend at the moment.
In the short term, the support level is in the range of 3800-3780. If this position is not broken, there is a high possibility of continuing to rise after some volatility, breaking new highs. The next target is to stabilize above 4000 USD, at which point one can consider entering long positions, provided that a suitable buying opportunity can be found. If the price directly breaks after volatility, it is also a moment worth paying attention to.
