Ethereum is currently showing signs of weakening momentum on an hourly basis, and investors should closely follow the key support level around 3650. The intraday market may experience a pullback, with the primary observation point being the middle band support level near 3650. If this level cannot be maintained, the next important support level may be around 3500.

However, personal analysis suggests that the likelihood of Ethereum breaking downwards is low. Recently, the market has been in a stalemate between bullish and bearish forces, and there have been several rounds of both upward and downward fluctuations from last night to today, resulting in significant losses for many investors.

Given the current complexity and uncertainty of the market, it is advisable for investors to maintain a cautious attitude, primarily adopting a wait-and-see approach and reducing frequent trading. Over-investment or emotional decision-making may lead to unnecessary risks. Staying calm and rational, and patiently waiting for clearer market signals is the wise choice.