Recent movements of Ethereum have attracted considerable attention. A well-known figure in the crypto space has significantly reduced their ETH holdings and shifted to other asset allocations. Actions by such major players often ripple through the market. Meanwhile, Ethereum's dominant position in the DeFi ecosystem continues to strengthen, and although competing blockchains are catching up, they still find it difficult to close the gap, which supports ETH's fundamentals.

From a technical perspective, ETH is currently priced at $3040.39, with a clear bullish sentiment. The RSI reading is 54.4, indicating a neutral to slightly strong zone, reflecting that the market has upward momentum but is not overheated. The key level here is the breakout point at $3086—once this level is surpassed, the upside potential will further open.

Analyzing the current support and resistance levels: the support at $2979.58 is relatively solid, while the resistance at $3101.2 is clearly defined. From the breakout point at $3086, it is evident that this level holds significant technical importance.

From a trading standpoint, the current strategy is to maintain a stable position and observe the market. If the price effectively breaks through $3086, consider adding to the position, with an initial target near the resistance at $3101.2. For risk management, set a stop-loss at $2979.58; if this support is broken, exit promptly to limit losses.

ETH is indeed at a critical juncture at this stage. The future trend will largely depend on whether a valid confirmation of the breakout above $3086 can be established. What are your thoughts on the current market? Feel free to share your observations and trading ideas.