Recently, the Ethereum market (ETH ) has shown a typical wide-range fluctuation trend, which is often a key stage of market consolidation. Currently, the 8-hour chart of ETH shows that the high position pattern has been digested, presenting a strong adjustment trend.

The market is expected to fluctuate between $3534 and $3827. Specifically, intraday traders need to pay attention to the following key price levels: the upper resistance levels are $3773-$3785 and $3808-$3827; the lower support levels are $3720-$3706, $3640-$3627, and $3591, with the extreme defensive level at $3534-$3455.

From a weekly perspective, the axis is forming a bottom, and the MACD indicator is about to cross upwards, which may signal a potential reversal. It is worth noting that a new trading week is about to begin, and $3755 will be a key price point.

Market concerns about the axis rebound seem to have eased in the early stages, as the depth of the pullback is not too significant. This relatively moderate adjustment may lay a good foundation for the upcoming market trend.

Overall, the current ETH market is at a delicate balance point. Investors should closely monitor the key price levels mentioned above, while also considering changes in technical indicators to seize potential trading opportunities. However, given the uncertainty in the market, maintaining caution and risk management remains crucial.