Looking at the 4-hour chart, Ethereum's recent pullback isn't as severe as expected. It found buyers around 3180 and then rebounded.

However, this support level may not hold for long. If the overall market continues to decline, Ethereum is likely to follow suit. The 3160 level probably won't hold and may be breached again. If it breaks down, the next target to watch is the 3030-3060 range—there should be quite a few bottom-fishing funds waiting there.

For Bitcoin, the key support is around 900-906. This price range can serve as a reference entry zone for long positions on Ethereum.

Looking from another perspective, if Ethereum can stabilize within the 3000-3100 range, it would be a good sign of stabilization. Once stabilized, the first short-term rebound target could be the resistance zone at 3400-3600. Whether it can break through this level will directly determine the potential for further upside.

Overall, it's still a period of oscillation and adjustment. The key is to monitor the support area's performance closely. Once signs of stabilization appear, consider entering in stages. But risk management must be in place—don't go all-in right away.