The price of Ethereum has recently shown signs of recovery, returning to the $3600 level, sparking speculation in the market about whether it can break through previous highs. However, in the absence of obvious favourable information, it is expected to continue fluctuating in the $3550-$3580 range in the short term.

For short-term traders, it may be worth considering shorting near $3650, with resistance at $3670 and support at $3560. This strategy requires careful execution and close attention to market movements.

It is worth noting that a curious phenomenon has emerged in the global financial markets recently: stocks, gold, and U.S. Treasuries are all rising, while the dollar is weakening. This rare asset correlation usually indicates a common driving force—the market's expectation of an imminent interest rate cut by the Federal Reserve.

An increase in liquidity often drives up the prices of various assets. The market speculates that the Federal Reserve may begin a series of three consecutive rate cuts starting in September. If the situation is similar to last year, after the Federal Reserve's rate cut on September 18, the People's Bank of China may follow suit, which would inject strong momentum into the market. Although it may not trigger a significant rise, it will undoubtedly become an important driving force.

In this macro environment, the cryptocurrency market, especially Ethereum, may be positively impacted. Investors should closely monitor changes in global monetary policy, while carefully assessing risks and making appropriate asset allocations.