The current price of Ethereum is hovering around $3885. $3917 is a key resistance level, especially under the pressure of larger resistance levels, where market makers may attempt to test this overhead resistance. The rebound trend is not yet clear, and investors holding short positions can continue to hold, while those considering going long should preferably choose spot trading and temporarily avoid contract operations, as the risks may outweigh the rewards.

From the daily chart, today's highest reached 3926 USD, while the lowest was 3817 USD. The EMA trend indicator is contracting slowly, and the candlestick is currently held back by the EMA120 line near 3867 USD. If this position cannot be broken before the close at 8 AM, the market may decline further. However, if the price successfully breaks through the EMA120 line, a rebound may occur in the short term, leading to a slow upward trend for several days. Mid-term resistance levels to watch are the middle band of the Bollinger Bands at 4220 USD and the lower band at 3660 USD.

The four-hour chart shows that the price has been consistently hindered at the golden ratio line of $3917 at the 0.618 position, which is a significant pressure point. The MACD indicator has shown a bottom divergence, and although the trading volume is rising, it has encountered resistance and has fallen back. A golden cross is formed near the middle band of the Bollinger Bands at $3900 and the 0.618 line, making a breakout difficult to envision. The area above $3900 can be regarded as a key interval; as long as it does not break downwards, it remains valid, and if it breaks upwards, it may directly target $4050. The upper band of the Bollinger Bands is at $4060, and the lower band is at $3735. The overall trend remains bearish, so the strategy mainly focuses on going short at high levels, with going long as a secondary option.

Short-term trading advice:
You can try to go long when it breaks through 3900-3930 USD, set a stop loss of 50 points, and aim for a target of 3980-4040 USD.
You can try to go long when it has not broken through the resistance level of 3900-3930 USD, with a stop loss of 50 points, targeting 3850-3800 USD.

It is important to note that specific operations should be based on real-time market data. The current market is highly volatile, and investors should operate with caution and manage risks appropriately.