After this wave of Ethereum's rebound, it has been hovering around the key level, failing to hold the 3400 line, and even struggling to stabilize above 3350. As the weekend approaches, market activity has noticeably decreased, and there is no new capital influx to support the trend. The movement presents a familiar pattern—sharp rise in the early stage followed by a gradual pullback.

The pattern this weekend is very similar to last week. Against the backdrop of US core CPI data falling below expectations, risk assets are under pressure, and the crypto market is feeling the strain as well. Many analysts believe that sideways consolidation will be the main theme in the short term, and the risk of downward testing cannot be ignored.

From an operational perspective, opportunities to chase the rally are limited. It’s better to take advantage of the rebound high to position for shorts and wait for the next support level to be confirmed. Interestingly, MSCI’s recent attitude has softened, and it is not ruled out that digital asset-related listed companies may be included in the index system, leaving some room for imagination in the market. However, in the short term, this positive news may still take some time to be fully reflected in the price.

Stay cautious over the weekend and see how the market reacts on Monday.