It's highly likely that there aren't many long positions left and instead, there are quite a few short positions. Considering this with a 'retail investor' mindset, Ethereum has been struggling for half a year, and rebounding to over 2500 here is simply looking for a setup. But think about why this rebound is so strong? It's because every rise or fall has the sole mission of completely eliminating either the bears or the bulls. Everyone believes that 2500 is a place to short with their eyes closed. If it goes up to 3000 in a few days, the short sellers will be even more restless, and then the bull market will truly begin. Of course, this isn't exactly the best time for the bulls to jump in, because plans can change quickly, and there's always a possibility of a sudden drop. One can only say that the bullish probability is higher; chasing the market and cutting losses is the old business of retail investors.