From the technical perspective of Ethereum, the recent market trend has shown a complex situation. The rise has encountered resistance and retreated, while a downtrend has begun to emerge. The breakthrough test at the 3400 position indicates that the originally key support level has been broken, which undoubtedly brings more uncertainty to the market.

Currently, the price range of 3525 to 3595 has become particularly important and may be key in determining future trends. It is worth noting that a divergence has appeared in the main structure of the pump, which is often a signal that the market may turn. From the arrangement of the 4-hour candlestick chart, the market still shows a relatively weak stance, which further increases investors' cautious sentiment.

Based on the current market conditions, the pullback in the second phase may still continue. Therefore, in terms of operational strategy, it is recommended to focus primarily on shorting at high levels, while going long should be considered a supplementary strategy. Of course, the market is ever-changing, and investors need to closely monitor the changes in various indicators and adjust their strategies in a timely manner.

Overall, the Ethereum market is at a critical turning point. Investors need to stay vigilant and closely monitor market trends, especially the performance of key price ranges. At the same time, it is important to manage risks and allocate assets wisely. In this challenging market environment, it is particularly important to remain calm and rational.