Looking at the 1-hour trend of ETH, the recent movement is quite interesting. After reaching 3034.36, there was a pullback, but the Bollinger Bands are opening upwards, and the midline at 2994.6 is providing solid support—indicating that the trend has not reversed, and the bulls are just consolidating their strength.

The MACD is even clearer. The DIF line has strongly crossed above the DEA line, forming a standard golden cross, and the red histogram is gradually expanding. This kind of energy accumulation signal usually suggests a potential new upward breakout ahead.

But technical analysis is just surface-level; the key is to watch what on-chain players are doing. In the past week, institutional wallets have increased their holdings by over 120,000 ETH, while exchange balances continue to decline. This data combination is very representative—big funds are quietly positioning, while retail investors are still on the sidelines. Coupled with the progress of Ethereum ETFs and the continuous refresh of Layer 2 ecosystem locking data, these are all potential catalysts for a rally. Market sentiment is slowly shifting from apathy to greed, and many haven't realized it yet.

From a practical trading perspective, the current zone around 3000 is worth paying attention to. Once the accumulation is complete, the next target could be above 3200. Buying on dips and chasing highs are two different strategies; early positioning is much more cost-effective than chasing after a move.

I will continue to monitor each key level and provide updates as new developments occur.