The current price of Ethereum is testing a key position—the support level of $3,178, which was previously a resistance
Ethereum has formed a strong resistance range between $3,178 and $3,250. After failing to rise within this range, it is fully reasonable to open a short position.
If the upper limit of this resistance range at $3,250 can be effectively broken, then a long position will be triggered, aiming for $3,308.
After the price falls back to the support range of $3,100, only upon confirming a reversal pattern will the gradually rising low points formed at this position be a reliable signal to enter long.
It should be noted that merely returning to this area does not constitute a condition for going long; rather, it may signal the continuation of a bear market trend.
