The opening price of Ethereum today was 3714. After a pullback to the support level of 3656, the bullish momentum significantly strengthened. The price then showed a strong upward trend, reaching a high of 3863.

Currently, Ethereum is approaching the important resistance level of 3878. Investors should closely monitor the night market, especially the key resistance range from 3878 to 3940. In this area, small-scale short positions can be considered, but the stop-loss should be set at 3950. If the price breaks the stop-loss level, the next focus will be the range of 4000 to 4100, where short operations can still be attempted.

In terms of support levels, 3700 to 3650 is an important range. If the price finds support within this range and does not break below it, the bullish trend is likely to continue, and small positions can be considered for going long. However, if the four-hour candlestick closes below this support range, the bullish pattern will be severely impacted, and investors holding long positions need to pay extra attention to risk management.

It is worth mentioning that recent market news shows that the U.S. government is considering adjusting relevant policies, which may have some impact on the cryptocurrency market. When formulating trading strategies, investors should pay close attention to changes in policy as well as technical aspects.