Ethereum is currently at a delicate inflection point on the 1-hour chart. The price continues to oscillate around the 3095 level, and after rebounding earlier from the low of 3052, both bulls and bears are strategically maneuvering, with neither side gaining absolute dominance.

From a technical indicators perspective, the current situation does show some bearish pressure — the Bollinger Bands are expanding downward, moving averages are in a typical bearish alignment, and the short-term downtrend is quite evident. However, there's an interesting detail here: the MACD is already showing signs of a golden cross, like a glimmer of light breaking through the clouds, and the seeds of a rebound may be germinating.

On-chain data and market sentiment remain relatively quiet, with no major events stirring the market. This means the current movement is entirely driven by technicals. Based on these observations, my assessment is: Ethereum will likely continue to oscillate within a range in the short term. 3120 constitutes obvious resistance above, while 3050 is the support floor below. Why do I see it this way? Bulls are positioning for value buying at 3050, while bears are setting ambush points at 3120. Both sides have equal strength, and neither will make aggressive breakout moves in the short term.

This type of market is actually the best opportunity for traders — short at highs, long at lows, time your rhythm correctly, and profit potential is substantial. The key is holding the 3050-3120 range; once either side breaks through, the market will give a clearer direction.