Ethereum 1-hour chart is at a delicate turning point. The price continues to fluctuate around 3095, and after rebounding from the low of 3052, both bulls and bears are brewing beneath the surface, with neither side gaining a clear advantage.

From a technical perspective, the current situation does show some bearish pressure — the Bollinger Bands are opening downward, and the moving averages are in a typical bearish alignment, with a clear short-term downtrend. But here’s an interesting detail: the MACD has already begun to show signs of a golden cross, like a glimmer of light breaking through dark clouds, suggesting that a rebound might be brewing.

On-chain data and market news are currently quite calm, with no major events to stir the situation. This means the current momentum is entirely driven by technical factors. Based on these observations, my analysis is: Ethereum is likely to continue oscillating within the range in the short term. 3120 acts as a clear resistance above, while 3050 is the support level below. Why do I see it this way? Bulls are positioning around 3050 for a rebound, and bears are setting traps around 3120; both sides are evenly matched, so neither will likely make aggressive breakouts in the short term.

This kind of market condition is actually the best opportunity for traders — short at the highs, buy at the lows. If the rhythm is right, the profit potential can be quite significant. The key is to hold the 3050-3120 range; once one side breaks, the market will give a clearer direction.