The price of Ethereum (ETH) reached a key level of $4280 in the evening, which coincides with the zero axis position of the Fibonacci level 0.382. It is worth noting that the price level of $4280 has been tested multiple times and has briefly fallen below, indicating that this position may face breakthrough pressure.

If the price successfully breaks through $4280, the next focus will be the range of $4220-4200. From the daily chart perspective, the current pullback seems to be in the adjustment phase after the third wave, and it is expected that there is still room for an upward trend in the future, possibly leading to a fourth wave rise.

For short-term traders, if the price falls below around $4270-4280, it is advisable to wait for a rebound before considering entry, with a target price of $4220. However, if there are no clear entry opportunities, it is not recommended to blindly chase the rise.

Medium to long-term investors can pay attention to the support level around 4220-4200 USD, which may present a good buying opportunity. If the market trends as expected, the future target prices may successively reach 4380, 4480, 4600, and even 5000 USD.

Overall, the Ethereum market is currently at a critical technical position, and investors should closely monitor price movements to make corresponding decisions based on their own risk tolerance and investment strategies.