Ethereum has been acting a bit extreme lately.

A few days ago, I placed a long order at 2980, but the market taught me a lesson and my stop-loss protection was triggered. Looking at the current chart, ETH has a clear short-term ceiling—it's stuck at the 3250 level.

The key is whether it can break through 3250; this is a watershed. If it can firmly break and hold above, the upside opens up: the first target is around 3365, and if you're aggressive, the extreme target could be 3650.

But what if it pulls back? Personally, I'm more focused on the 2870 support level, rather than last night's wick down to 2900—that looked more like a momentary emotional spike. 2870 is a more solid defense line.