Looking at ETH's recent market trend, the 4-hour chart still shows a bullish rhythm. The price has been operating above the three moving averages: EMA60, EMA120, and EMA200, with the moving averages diverging, indicating that the overall trend framework remains intact.

The current position is quite critical. From the previous high of 3309 back down to around 3255, it’s a typical high-level consolidation and retest action. Regarding the Bollinger Bands, the upper band is approximately at 3305, the middle band at about 3205, and the current price is between the middle and upper bands, suggesting that this is not a strong upward surge but rather a process of price digestion and sideways consolidation.

The key support levels are in the 3230 to 3200 range—where EMA10 and the Bollinger Band middle line resonate, which carries some significance. Further down, 3120 to 3150 is a strong support zone aligned with EMA60. On the resistance side, it’s around 3300 to 3320, corresponding to previous highs and the Bollinger Band upper band.

To summarize the current situation: ETH remains in a bullish pattern, with no change in the overall bias, just undergoing a consolidation phase at high levels. As long as the price does not fall below 3200, there’s a good chance of continued upward movement after the consolidation. If a volume breakout above 3320 occurs, it could open up new upside space. Conversely, if it drops below 3150, that would be a signal that the structure is shifting from strength to weakness.