The latest market shows that Ethereum (ETH) is currently trading around $3500, hovering in the previous high point area. However, multiple attempts to break through have been unsuccessful, and the rebound momentum has weakened.

From a short-term perspective, the current rebound may just be a retest of the high points after the decline, rather than a signal of a trend reversal. The support level in the range of 3465-3470 USD has already been tested once, but lacks strong structural defense, and can only be regarded as a temporary stop-loss zone.

In the medium to long term, the 4-hour and 12-hour charts still show a clear downward trend. The top structure has completed a typical bearish formation. Currently, the ETH price has not broken above the key resistance zone of $3550, and technical indicators such as RSI and MACD have not shown strong resonance signals, reflecting insufficient upward momentum.

$3550 has become the key price level that will determine whether this rebound can evolve into a true reversal. If it cannot effectively break through this resistance area, ETH is likely to retest the support zone around $3400.

Investors should closely monitor the performance around the $3550 level, as it will determine whether Ethereum continues to rebound or falls back in the short term. At the same time, attention should also be paid to the overall trends in the cryptocurrency market, as well as news and events that may affect the price of ETH.