The analysis discusses Ethereum's price action over the last 24 hours. The cryptocurrency's eligibility for 401k in the United States has provided some momentum. The price broke above the value area high and retested it. The analyst suggests that a rally to 3800, potentially 3900, was likely, followed by a rejection back into the range. The circumstances surrounding Ethereum and crypto have fundamentally changed. A rejection is expected, targeting a pullback into the 3800 to 3750 range, a retrace at 3750 is to be expected. If a strong reaction from the 3750 level is achieved, then a real breakout is likely, aiming for 4100 and 4200.