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Ethereum's recent performance has been quite remarkable. It successfully broke through the key resistance level of $3700 and briefly reached a high of $3800. This breakout was supported by solid support near $3500, which is not only an important starting point but also forms the neckline position.
Currently, the range of 3508-3500 USD is still considered a key support for bullish signals. Market participants generally expect Ethereum to attempt to break into the range of 3580-3630 USD. However, investors should remain cautious, especially when the price rebounds above 3600 USD, as there may be some pullback pressure.
It is worth noting that the trading volume of Ethereum has recently surpassed that of Bitcoin, highlighting the growing importance and influence of Ethereum in the cryptocurrency market. This may indicate that market participants have higher expectations for the future development of the Ethereum ecosystem.
Nevertheless, the cryptocurrency market has always been highly volatile, and investors should fully consider the risks when making decisions, combining them with their own investment strategies and risk tolerance.