Ethereum has recently shown strong bullish momentum, with prices breaking through important technical resistance levels, indicating a market pattern dominated by long positions. From a Technical Analysis perspective, although there may be pullback pressure in the short term, the overall market sentiment remains optimistic.

Multiple technical indicators support this view. The MACD indicator shows that long positions momentum is accelerating, with the fast and slow lines continuing to diverge upwards, and the histogram displaying a staircase-like expansion trend. Although the RSI indicator is close to the overbought zone, it has not fully entered the danger zone, suggesting that the current pump trend may still have room for continuation.

Bollinger Band analysis shows that the previous upper resistance level has turned into the current support level, and this shift further strengthens the market's upward momentum. At the same time, the Bollinger Bands are continuously widening, indicating that market volatility may further increase.

However, investors should also note that after experiencing a strong pump, the market has entered an overbought state in the short term. It is expected that in the upcoming trading sessions, Ethereum may undergo a consolidation in the range of 3850 to 3939 to digest the previous rise.

For short-term traders, it may be worth considering building positions around 3850 and setting 4000 as a potential target level. However, it is important to remember that the cryptocurrency market is highly volatile, and investors should develop trading strategies based on their own risk tolerance and investment objectives.

Overall, Ethereum's current trend is strong, with technical support indicating bullish expectations, but investors should remain vigilant, closely monitor market changes, and adjust their strategies in a timely manner.