$ETH has reached 3400, which is the core range for mid-term capital allocation.
The market always tests faith through volatility. ETH is currently consolidating around 3400, which is actually a typical accumulation pattern before a price increase.
From the market structure perspective, the quick rise of ETH above 3500 has not completed the chip accumulation. After short-term capital exits, what remains is a more stable mid-term chip structure.
On-chain activity, DEX trading volume, Layer 2 locked amounts, and several other data points are showing a stable upward trend, indicating that the core logic of the market has not been disrupted. More importantly, ETH has deeply integrated into mainstream narratives like AI, DePIN, and RWA, and its future scenarios go far beyond just price performance.
3400 is not panic, but a strategic accumulation zone that only a few can recognize.
$ETH