Ethereum's recent trend has fallen into an interesting situation. The price is repeatedly testing at relatively high levels, appearing to be in a consolidation phase after a significant rally. At such times, the most frustrating thing is the inability to distinguish whether it's a false breakout or the beginning of a new trend.

From a risk perspective, the situation is indeed a bit delicate. The price is repeatedly confirming support around 2970-2980, while the 3000 level remains a psychological barrier. Any strong breakout, whether upward or downward, could trigger a one-sided move. The signs of activity from the main players at these critical levels are still quite evident.

If you want to participate, a more prudent approach is as follows. One method is to take small long positions at the lower support area of 2970-2980, but only after volume clearly diminishes or a bottoming hammer pattern appears. Another approach is to wait until the price volume increases and stabilizes above 3000, which would confirm that the consolidation has truly ended, making subsequent entries more reliable.

For risk control, placing a stop-loss around 2950 is reasonable. This level has been tested multiple times recently as support; if it breaks, the short-term structure will weaken. The target levels above can be viewed in two steps: first, the 3000-3010 zone; second, if the price successfully breaks through 3000, it can continue towards the previous highs around 3040-3050.

Overall, the most sensible approach now is to trade within the range, paying close attention to changes in open interest and the price behavior at the boundaries, waiting for clearer directional signals to emerge.