ETH's current market momentum appears to be relatively weak in the short term. The overall structure has not fully broken down, but it is clearly retreating from high levels into a consolidation phase.

Key support levels are in the 3210 to 3180 range, where the previous lows and lower shadows are concentrated, and where multiple attempts to halt the decline have occurred. If the price tests this area without a significant increase in volume and breaks below it, the probability of a rebound increases. Conversely, resistance is at 3260 to 3280, which is the previous high retracement zone and the first strong resistance during a rebound. Without a volume breakout through this level, it is likely to be pushed down again.

Looking at moving averages, the price is currently operating just below the mid-line, with the upper band flattening or even beginning to turn downward. In simple terms, the upward momentum is waning, and the market is more in a oscillatory correction phase.

Regarding MACD, the green bars have expanded and are now converging, but a strong bullish crossover has not yet formed, indicating that the bearish phase has eased into a wait-and-see stage rather than an immediate reversal. The RSI oscillates between 30 and 45, which is characteristic of a sideways market.

Overall, ETH is currently in a consolidation after a high-level retreat, with no clear short-term trend. For trading strategies, avoid chasing moves above 3260 to 3280 without volume; if the price holds above 3210 to 3180, it could rebound, but a break below that warrants caution for a second downward test. The approach should be based on a range-bound strategy of selling high and buying low.