Ethereum has formed a clear short-term strong resistance around $3150. In the early hours, the price surged again but then fell back, indicating heavy selling pressure in that area, and the rebound highs are gradually declining. Currently, the price has fallen back to around $3090. If it cannot regain above $3120 in the short term, the downward continuation pattern will be reinforced.

The technical structure has shifted to a bearish bias, with the hourly chart showing characteristics of “lower highs and testing lows.” The price has retreated from resistance and tested the $3085 support level, accompanied by volume divergence with increasing volume during declines and decreasing volume during rebounds. Momentum indicators like MACD and KDJ are both operating in weak zones, with no effective bullish divergence signals.

Overall, Ethereum has entered a short-term correction phase. The key support zones to watch are $3080-$3070. If these levels are broken, it may accelerate the decline toward the previous support at $3040-$3020. Trading suggestions include taking small short positions after rebounds to the $3100-$3120 area, with strict stop-loss set above $3150.