Ethereum's recent market performance has drawn attention. Yesterday, the ETH price experienced significant volatility, falling from a high of $4205 to a low of $4070, eventually closing near $4150.

From a technical perspective, the daily MACD indicator shows that bearish forces are strengthening. Market participants should closely monitor the key support level at $3900. If the price falls below this level, the next target may drop to $3760. On the other hand, $4215 constitutes significant resistance above. If this level can be broken, ETH is expected to further challenge the MA30 moving average.

The four-hour chart shows that the MA7 moving average has formed immediate resistance in the short term. If the breakthrough is successful, the next upward target may be the MA360 moving average. It is worth noting that the MACD indicator in this time frame also shows signs of increasing bearish momentum.

For short-term traders, the range of $3900-$3940 may provide buying opportunities, with target prices between $4180-$4210. Conversely, if the price rises to the range of $4220-$4260, short selling can be considered, with target range of $3980-$3940.

Overall, the Ethereum market is currently at a critical technical position, and investors should closely monitor these key price levels and adjust their strategies in a timely manner based on market trends. At the same time, it is important to pay attention to the potential impact of external factors on the cryptocurrency market and remain vigilant and flexible.