Ethereum has fallen from the 1725 level to the 1709 range, with a slight overall decline of less than 1%. The moving averages on the chart maintain a bullish upward pattern, but it is under short-term pressure at the key resistance level of 1725. This level is both the intraday high and also accumulates a large number of short-term position chips, suppressing upward momentum. Only by effectively standing above the 1725 mark can the bulls further expand the upside space. Overall, relying on the overall bullish trend, we look to enter long positions on pullbacks.