Ethereum is quoted at $3,298 today, fluctuating between $3,270 and $3,330 over the past couple of days. The key support level is at $3,200, while the recent resistance is at $3,400. From a monthly chart perspective, the bullish pattern remains intact. Coupled with upgrade expectations and continuous large capital inflows, many institutional investors are very confident about the future market, with some even calling for a target price of $7,000+. However, risks must be closely monitored—if the price breaks below the $3,200 defense line, be alert to potential chain reactions. Also, don’t forget the competitive pressure from other platforms.