Ethereum (ETH) has recently shown strong pump momentum, but technical indicators across multiple time frames indicate significant overbought pressure, and investors should remain cautious.

From the 4-hour chart, the ETH price has broken through the upper Bollinger Band, and the MACD indicator continues to show bullish signals. However, the RSI(6) has risen above 86, indicating that there may be a risk of a pullback in the short term.

The 1-hour chart shows that ETH is consolidating near the upper Bollinger Band, with a short-term high at $3927. The RSI indicator has reached above 79, indicating that the rise momentum is starting to weaken.

The 15-minute chart shows signs of a pullback after a rise, with the Bollinger Bands narrowing and the RSI indicator retreating to around 70, indicating that the short-term market is cooling down.

Given the current market conditions, investors should avoid blindly chasing highs. It is recommended to wait for the price to stabilize around 3880 or 3860 USD before considering entry. If there is a significant drop below the middle band of the Bollinger Bands on the 15-minute or 1-hour chart, a light short position can be considered for testing, with target prices set at 3860 or 3820 USD.

The main resistance level above is at $3927. If this level is broken, the next target range will be $3950-$3980. The support levels below are at $3880, $3860, and $3820.

It is important to note that the high RSI technical indicator warns investors to be cautious of retracement risks. It is recommended to use signals from the 15-minute chart to grasp entry and exit timing, and to set take-profit and stop-loss levels reasonably. In the current market environment, maintaining a flexible trading strategy and strict risk management is crucial.