Ethereum (ETH) price has once again reached a new high, attracting widespread market follow. Previously, analysts predicted that ETH might break through the bearish wedge pattern and test the price range of $3940 to $4090. Currently, ETH has already reached the target price near $3940.

However, investors need to be wary of potential pullbacks. The key observation point is the upward trend line, and if this trend line is broken, ETH may experience a phase of weakness.

$3750 is an important technical level, serving as a point of support and resistance. If ETH falls below this level, it may further expand the space for a pullback.

From a broader perspective, $3520 is seen as a strong support level, while $4090 is an important resistance level. These two price levels may affect the trend of ETH in the short term.

Investors should closely follow these key price levels and evaluate the future direction of ETH in conjunction with market sentiment and other technical indicators. At the same time, it is also important to note the high volatility of the cryptocurrency market, making risk management crucial.