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Ethereum is currently engaged in a tug-of-war around the $3100 mark. From a technical perspective, the bulls have pushed the price up to $3218, and it is now in a slight correction phase, with support stable around $3120.
In the short term, once it breaks through the key resistance zone of $3220-$3250, Ethereum is likely to continue upward, targeting $3350, and a short-term test of $3500 is also possible. However, risks should be noted—if it cannot hold the $3120 support, a pullback to the $3050-$3000 range is imminent.
From a technical indicator standpoint, the MACD momentum is strengthening, and the RSI has risen above the 50 level, all signaling short-term bullishness. The ongoing tokenization boom has also injected considerable trading enthusiasm into the market. Overall, Ethereum's upward momentum remains clear, but the coordination between volume and technical signals needs further observation.