Recently, Ethereum's price movement has been quite interesting. It touched around $3,150 and then pulled back, but it didn't break below the $3,050 support level. Instead, it stabilized there and rebounded upward. Now, the price has already returned above $3,100, indicating that the bulls still have some strength.

From a technical perspective, the $3,050 level is a lifeline in the short term. Holding this level means the bottom is still intact. More importantly, in the past couple of days, the price has stabilized above $3,080, providing a good springboard for subsequent upward movement. The volume and price action are also favorable — during the pullback, trading volume shrank, but during the rebound, volume was released. The momentum indicators on the hourly chart are also recovering. All these signals are building momentum for the next wave of gains.

From a trading standpoint, the key is whether Ethereum can continue to hold above $3,080. If this level is maintained and buying interest follows, there is a high probability of challenging the resistance at $3,150 again. If it breaks through $3,150, the upward space will further open, with targets around the $3,180–$3,200 range.

For trading advice, use $3,080 as the short-term dividing line between bullish and bearish. Staying above this level suggests a bullish outlook, while below it, caution is advised.