Ethereum's recent performance on the 4-hour chart is worth paying attention to. Yesterday's rally, although breaking through the key resistance level of 3050, was ultimately suppressed and pulled back, and this signal deserves serious consideration.

For bullish traders, the 2900-2870 zone is a level that cannot be ignored. This price range is supported by three layers: the Fibonacci 0.618 retracement level, the most concentrated POC zone, and the upward trendline support. As long as the price does not effectively break below this area, there are still reasons to hold or add positions.

On the bearish side, the current strategy is to wait patiently. If the support below is gapped through and cannot be effectively recovered, then look for shorting opportunities on the right side. Once weakness is confirmed, the next clear target points to the 2720 support.

Overall, the 2900-2870 and 2720 levels are the key points that need the most attention right now.