Ethereum's price trend is gradually approaching the apex pressure zone of the convergence pattern. When the long and short forces repeatedly compete within a specific range, this typical triangle consolidation structure often heralds the reintegration of market chips. Judging from the technical chart, the current price wedge has narrowed to the critical point, and the confirmation of the breakthrough direction will become a key turning signal for the subsequent market.

According to the Fibonacci retracement indicator, after effectively breaking through the current neckline of $2,620, the first significant resistance will appear around $2,798, which corresponds to the upper edge of the historical trading concentration area. If the market volume continues to expand, the price is expected to break through this resistance band and challenge the medium-term target of $3,442, corresponding to a potential upside of approximately 23%. It is worth noting that the momentum indicator shows that although the current buying power has the upper hand, the relative strength index is close to the overbought area, and we need to be vigilant about the risk of short-term correction.

If the breakthrough fails, the price may continue to fluctuate in the box, and the support level of $2,450 below will be tested. This kind of oscillation and convergence pattern usually means the accumulation of momentum of major funds, which may subsequently form new breakthrough momentum. Traders are advised to pay close attention to changes in trading volume and the offensive and defensive situation of key prices, guard against the risk of false breakthroughs and capture trading opportunities after the trend is confirmed.