The recent performance of the Ethereum (ETH) market has been noteworthy. Yesterday, the price of ETH was seen as a buying opportunity below $3657, and after stabilizing at this level, $3800 became the next potential target.

This morning, ETH reached a high of $3716, but quickly fell back after encountering resistance near $3720. This movement indicates a willingness to rise in the market, but the optimal timing has not yet arrived. After a period of digestion, ETH may lead the rally again. Currently, price levels below $3630 are still considered a good entry point for bulls.

It is worth noting that some recent macro events do not seem to have had a significant impact on the cryptocurrency market. For example, Trump's comments on the chip tariff issue did not cause any dramatic fluctuations in the market. However, investors still need to closely monitor the potential tariff policies of the United States towards China, as well as interest rate decisions, as these factors may affect the future direction of the crypto market.

In addition, the introduction of new regulations for stablecoins in Hong Kong, the increase in holdings by large ETH holders, and other factors are also worth noting, as these could have a potential impact on the market. In the current market environment, investors should remain vigilant, closely monitor market trends, and make informed investment decisions based on their own risk tolerance.