Today, the market trend of Ethereum can be described as full of fluctuations, making market participants' hearts race. The ETH price once reached a high of $4011.09 in the early morning, followed by strong selling pressure, and is currently oscillating around $3961.58. The intraday trading range is between $3847.55 and $4011.09, with an astonishing fluctuation.

From a technical perspective, the Bollinger Bands indicator shows important key points:
1. The upper track is located at $3979.46, and every time it approaches this position, it encounters strong resistance.
2. The middle track at $3913.50 is the dividing line between bulls and bears. Currently, the price is above it, maintaining a bullish pattern for the time being.
3. The lower bound of 3847.55 USD is the key support level; if it falls below this, it may trigger a larger decline.

Fibonacci retracement levels are also worth paying attention to:
1. The 23.6% retracement level of 3924.88 USD serves as a short-term support level, quickly rebounding after a morning pullback.
2. The 38.2% retracement level is $3871.54. If it falls below this, it may intensify the extent of the correction.
3. The 50% retracement level of $3828.44 is a deeper level of support, and if reached, may trigger panic.

The market is currently at a critical position, with intense competition between bulls and bears. Investors should closely monitor the breakthroughs or support levels of the key price points mentioned above to assess the upcoming trends. It is also important to pay attention to risk management, setting reasonable stop-loss levels to avoid significant losses during fluctuations.

In addition, attention should be paid to the overall atmosphere of the cryptocurrency market, institutional capital flows, and macroeconomic factors, all of which may have a significant impact on the price of ETH. Whether bullish or bearish, it is important to remain rational and operate cautiously in the current high Fluctuation environment.