Recently, the price of Ethereum (ETH) has started to rebound steadily above $2,980, showing that market bulls are gradually regaining confidence. Currently, the ETH price is consolidating around $3,080, which is a key resistance level in the short term and an important reference point for whether the price can continue to rise.

From a technical perspective, ETH has risen above $2,980 and is above the 100-hour simple moving average, indicating that a short-term upward price trend is beginning to emerge. The hourly chart shows that Ethereum is operating along an upward channel, with the bottom support of the channel around $2,975, which acts like the price's "safety bottom". As long as it does not fall below this level, it is expected to maintain the rebound momentum.

If the price can stabilize and break through $3,080, the market may continue to push Ethereum higher, with the potential to attempt higher price levels in the short term. This indicates that bullish forces are gradually gaining the upper hand, but attention should still be paid to the repeated testing of resistance levels during the upward process, especially the performance in the $3,080 area. If it fails to break through, the price may continue to consolidate within the channel, waiting for the next breakout opportunity.

Overall, ETH is currently in a phase of steady rebound, with both support and resistance at play. The short-term trend is mainly consolidating, and investors can focus on the key support at $2,975–$2,980 and resistance at $3,080 to judge the direction of the next market movement. For newcomers to the crypto space, understanding support is the safe zone where buyers may enter, while resistance is where sellers may exit. As long as the price stabilizes at support and breaks through resistance, the market is expected to continue rising; conversely, if it falls below support, it may retreat and consolidate.

In short, Ethereum is in a phase of steady rebound and consolidation, and investors should pay attention to key price levels, arrange operations reasonably, and patiently wait for the trend to become clearer.