Ethereum price faced resistance and pulled back near the intraday high of 3216. Although it has regained the middle band in a string of consecutive bullish candles, forming a technical breakout on a smaller time frame, the short-term structure is relatively strong. However, overall momentum remains moderate, with no clear signs of a strong one-sided trend, and the price action is still within a consolidation phase.

From the current market perspective, although price has returned above the middle band, the upward momentum is limited, and multiple tests of the highs have failed to produce a valid breakout, indicating lingering market disagreement at key levels. While a slightly bullish bias can be maintained in the short term, the sustainability of the move remains to be seen, and whether the upside can expand further will depend on subsequent volume support.

It is recommended to go long around 3150 and 3100, targeting 3250 initially; if it breaks, look for 3400.
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