Recently, Ethereum has shown a significant rise, with bullish forces dominating. Technical indicators are releasing positive signals, injecting optimism into the market. However, after reaching recent highs, the price has experienced a slight pullback, reminding investors to closely monitor subsequent developments.

Currently, the market focus is on two key factors: first, whether the price can gain effective support near the moving average; second, the trend of trading volume changes. If the trading volume can remain stable and the price successfully breaks through recent highs, then this rising market trend is likely to continue. Conversely, if the price breaks below key support levels accompanied by a significant increase in trading volume, it may indicate a reversal in the market in the short term.

In terms of Ethereum, the 3110-3130 range may provide a potential long opportunity, with a target price set around 3200. For Bitcoin, the 1170-1175 range may also present a buying opportunity, with a target price around 119500.

It is worth noting that the cryptocurrency market is highly volatile, and investors should fully consider risk factors when formulating trading strategies, reasonably control their positions, and pay timely attention to market dynamics to adjust their strategies accordingly. In addition, due to the rapidly changing market environment, the above analysis is for reference only, and actual operations should also be based on the latest market conditions for judgment.