The recent price movement of Ethereum (ETH) has attracted widespread attention in the market. Although there was a certain degree of rise during the weekend, analysts warn investors to remain cautious. Currently, ETH is fluctuating within a range of $4308 to $4174 and has broken below the middle line of the trading range. This trend indicates that ETH may struggle to continue its strong rise before breaking through the middle line of the trading range.

Investors should closely follow several key price levels: if ETH falls below $4106, it may further retrace to $3943 or even $3878. On the other hand, if it can break through $4234 and hold, it may look up to the range of $4276 to $4309.

It is worth noting that the price movement of ETH is closely related to its exchange rate against the US dollar. From a daily perspective, the ETH/USD exchange rate is forming a rounded bottom pattern, currently facing resistance at 0.03659. If it can break through this level, the next target may be 0.04070. However, if it fails to break through 0.03659, the ETH/USD exchange rate may experience a pullback, which will also affect the price performance of ETH.

For traders, it is crucial to maintain a clear mind. Market sentiment can mislead judgment, especially in the absence of clear positive news (such as interest rate cuts or monetary easing). It is recommended that investors closely follow changes in trading volume, considering adding positions above $4236, while being cautious of downside risks below $4196.

Regardless, in the current market environment, setting reasonable stop-loss positions and constantly following market dynamics is a wise choice. The future price movement of ETH will continue to be influenced by various factors, and investors need to remain vigilant to avoid becoming victims of market fluctuations.