Ethereum ( ETH ) price faced a critical moment on Monday. With the loss of important support level, the market experienced a rapid fall. Currently, ETH has pulled back to the 0.75 fibonacci retracement level of the larger daily chart range mentioned in previous analysis.

Although the consolidation above the 0.75 fibonacci retracement level may create conditions for ETH to advance towards the $4060 area, this trend is not very certain. As an investor, a more cautious approach is to wait for the price to further rise to around $3400, or to consider new trading opportunities after clear confirmation signals appear on a lower time frame.

In the current market environment, it is particularly important to maintain patience and vigilance. The short-term trend of ETH may be influenced by multiple factors, including the overall sentiment of the cryptocurrency market, macroeconomic data, and the technological developments of the Ethereum network.

Investors need to closely monitor market trends, especially the performance of key support levels and resistance levels. At the same time, by combining technical analysis and fundamental factors, they should develop reasonable trading strategies to cope with potential sharp fluctuations.

Overall, ETH is currently in a delicate price range, and the future trend remains uncertain. Whether considering going long or short, more market confirmation signals are needed as a basis.