Ethereum is currently pulling back after a strong breakout from the ascending trendline and a successful retest of the support zone around 3,050–3,100.
Price is now reacting at the 4H MA200 and the previous breakout level. This area around 3,170–3,200 is an important short-term support. If $ETH holds above it, the bullish structure remains intact.
The current scenario:
$ETH created a higher low at the trendline
Broke out with strong momentum
Now doing a healthy pullback toward the previous demand zone
A rebound from 3,150–3,200 could send price back toward 3,350–3,400.
But if this zone fails, the next support is at 3,050–3,100. Losing that level would weaken the structure.
Summary:
Key support: 3,150–3,200
Major demand: 3,050–3,100
Upside targets: 3,350 → 3,400