Recently, the price of Ethereum (ETH) has fallen back to around $3600 from its highs, attracting the attention of market participants and prompting a reassessment. This price movement has forced many investors who were previously optimistic to reevaluate their strategies.

From a technical analysis perspective, a typical bearish signal has appeared on the 4-hour chart, which usually indicates that the price may decline further. Although Ethereum still maintains a strong upward trend from a monthly perspective, the short-term resistance level has yet to be broken, suggesting that the market may need further adjustment.

Currently, the market focus is on the depth and duration of this round of adjustment. Most analysts believe that only after a sufficient adjustment can Ethereum potentially welcome a new round of significant increases. This view is based on a comprehensive analysis of market rules and technical indicators.

However, despite facing short-term pressures, the long-term outlook for Ethereum is generally positive. As its application ecosystem continues to improve and technology upgrades persist, Ethereum's applications in areas such as decentralized finance (DeFi) and non-fungible tokens (NFT) are deepening.

For ordinary investors, the current situation may provide an opportunity to reassess the timing of entry. However, it is important to note that the cryptocurrency market is highly volatile, so effective risk management is crucial to avoid over-investing.

It is worth noting that the market is also closely watching the performance of other digital assets such as OM, SUI, SOLFUN, and Bitcoin (BTC). At the same time, factors such as the U.S. tariff policy, the overall adjustment of the crypto market, and the tenth anniversary of Ethereum may also have an impact on the market.

In this market environment full of uncertainty, investors need to remain vigilant, analyze rationally, and make informed decisions based on their own risk tolerance.