Ethereum has stabilized above $3,200 in the past two days, with the bulls gaining momentum and briefly reaching around $3,299. However, after encountering resistance at a high level, it has pulled back and is currently testing the 50% Fibonacci support level.

From a technical perspective, after breaking through the key resistance of $3,265-$3,300, the next target could be in the $3,350-$3,500 range. However, investors should also be aware of the risks: if the price falls below the $3,200 support level, short-term support levels will be at $3,120 and $3,050.

The MACD momentum is somewhat weak, but the RSI indicator remains above 50, indicating a generally bullish outlook. In the short term, there are still opportunities, but close attention should be paid to the performance at these key price levels.