Ethereum is currently holding steady at the support level of $3,050-3,080, and the upward trend line has not been broken—this indicates that the bulls are still exerting effort. The failure to break through the rally to $3,300 appears to be a normal market correction rather than a true distribution of the head.

As long as ETH does not lose the upward support line, the overall structure remains relatively healthy. If it can clearly break above the $3,150-3,180 range, the path to previous highs will not be far away. Although the current pace has slowed down, it has not yet disrupted the bullish framework.