Ethereum is gradually moving upwards during the adjustment, with prices firmly holding key support levels. The restless sentiment is receding, and funds are beginning to flow back into core assets.

On-chain activity is warming up, technological iterations are advancing, and the narrative is quietly shifting. From a singular narrative of scalability to multi-chain interconnectivity, AI, and re-staking, Ethereum is broadening its boundaries.

Price fluctuations are superficial; structural repair is the core. The market will eventually transcend short-term emotions and return to long-term logic. $ETH, at this new cycle node, is gradually unfolding its rhythm.