Recently, ETH's surge does feel a bit overextended. To be honest, this rally is likely nearing its end. The key is whether it can hold above the 3400 level—if it can't break through, then a further pullback is reasonable.

At this price level, there's no need to rush into chasing highs. Instead, focus on risk management at higher levels. For experienced traders, shorting in this situation might be a safer choice. Especially when positioning near new highs, the risk-reward ratio can be more favorable.

Overall, don't be greedy and chase longs here. Stay patient and wait for clearer directional signals.