Ethereum last night presented a shorting opportunity around $3440. If the market remains weak, look for a short entry at $3400. As a result, the US stock market opened with an immediate decline, only reaching a high of 3384 before turning downward.

From the 4-hour chart, ETH has tested the 3280 support level three times in a row but has failed to break below it effectively. Each retracement appears to lack momentum. At this pace, another downward move is likely to break through this support line. The resistance level around 3400-3440 is quite challenging to break without significant positive news.

From the current technical perspective, the timing for short positions is becoming more favorable. The price repeatedly tests the key support without breaking it, which instead indicates that the selling side is accumulating strength. This typical technical signal warrants close attention.