Ethereum's recent market movement is indeed quite intense. Looking at the current technical performance, it's still very interesting.

**Key Levels Are These**

The $3,280 to $3,300 range is honestly the most critical support at this stage. If the price stays above this level, the bullish trend line remains intact. Once this support is broken, the short-term upward structure will essentially collapse.

Looking upward, $3,400 is the recent rebound high. Bulls need to take this level first to continue pushing higher. Then there's the $3,300 long-term moving average (100 EMA), which the price is currently hovering around. Whether it can hold steady or break through this line is crucial for judging whether the market has truly reversed its downtrend.

If the price can break through $3,400, the next target could be the $3,500 to $3,700 zone. Conversely, if the $3,280 defense line fails to hold, the price might retreat to $3,200 or even drop straight to the key level of $3,000.

**Trading Strategies**

Scenario 1: If there's an upward breakout, watch whether the price can stabilize and retest between $3,300 and $3,350. If it does, consider entering long positions, with a target first set at $3,500 and a stop-loss below $3,280. There's also a broader context—if Bitcoin can hold above $95,000, the overall crypto market sentiment can pick up, making Ethereum's rise more natural. Recently, inflows into Ethereum ETFs have provided some support.

Scenario 2: If the price can't even break through $3,400 and instead reverses down, breaking below the $3,280 trendline, the upward momentum may be exhausted. At this point, avoid chasing the rally and instead watch how the lower support levels at $3,200 or even $3,000 respond.

Honestly, the volatility in the crypto market is driven by reasons. Last night, when Bitcoin broke out, the entire network saw $685 million in liquidations, mostly short positions being wiped out. This shows how high the risks are. So, never think about holding through a big move without proper stop-losses—that's the bottom line.

Overall, today $3,300 is the dividing line between bulls and bears, and $3,280 is the critical level for short-term strength or weakness shifts. These two levels will determine the market direction in the coming days.