Today let's continue discussing ETH. My judgment is straightforward: the upward trend hasn’t reached a pause yet, continue to remain bullish.

First, let's look at the temperature of the funding. Although the crypto market has recently experienced slight fluctuations, ETH's 'ability to attract capital' has remained strong. The inflow of spot ETFs from institutional investors is still ongoing, with nearly $400 million in new funds entering in just the first three days of this week—large capital voting with real money is itself a strong endorsement of ETH's value.

Next, examining the ecological fundamentals, the support is solid: Layer2's daily active users and transaction volumes are still climbing, the locked value in DeFi remains at a high level, and even the floor price in the NFT market is starting to recover. These are not just illusions on the candlestick charts, but the real vitality of ETH as 'on-chain infrastructure,' with users and capital firmly rooted here.

The technical signals are also quite clear. Over the past few days, ETH has been fluctuating in the 3300-3400 range, appearing to 'catch its breath,' but in reality, it is gathering strength. On the 4-hour chart, the 3350 level has repeatedly become the endpoint of pullbacks, rebounding whenever buying pressure arrives, indicating a high level of market recognition for this price point. Although the MACD red bars aren't as thick as before, they haven't broken off, and bullish momentum is still present; the RSI is steadily above 50, with room to move up before hitting overbought territory.

In terms of operations, consider setting up long positions in the 3350-3370 range. This level is not only the lower boundary of recent fluctuations but also a support level that has been tested multiple times, providing a relatively high margin of safety. It is advisable to set a stop-loss below 3320; if it effectively breaks down, it may indicate a change in short-term rhythm, so it would be safer to step back and observe.

For targets, first look at the small resistance at 3410, and after breaking through, 3450 will be the next milestone. If it can firmly stay above 3450, the door to 3500 will be completely opened—this wave of upward momentum really hasn’t reached a point of relaxation yet.

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