Based on the upward trend since early yesterday morning, Ethereum is currently exhibiting a typical consolidation pattern in the short term. It is now at the critical support level of 3200, with relatively limited downside space. If this bottom holds, there is potential to launch a renewed offensive, with 3260 expected to be the next rebound point. Once this level is confirmed not to break, the target for this week is the 3500 range above, requiring a bit more patience to see the rhythm unfold. During this period, opportunities for short sellers to cover are indeed limited, and a defensive approach may be more prudent.