Ethereum follows the overall market to rebound from oversold conditions within the day, with the overall trend leaning stronger. Prices gradually rise from lows, trading volume clearly increases, and the exit of bears drives the market to warm up.

Short-term indicators shift from weak to strong, with downward momentum continuously weakening, and bulls taking the lead in the short term. On the daily chart, the trend remains downward; this rebound is temporarily defined as a technical correction and has not reversed the medium-term trend.

Currently, core support is concentrated around the 1630 level, with strong defense at the low of 1580, and 1500 is a key strong support zone. On the upside, resistance first comes from the intraday high of 1720, with the 1800 level showing obvious resistance, making it difficult to break through effectively in the short term.

Market sentiment remains somewhat pessimistic, with the rebound lacking substantial positive catalysts, limiting its sustainability. In the short term, the market is likely to maintain a volatile upward rhythm; if it cannot break through the 1720 resistance, prices will return to range-bound oscillation. Once it surges near 1800, the risk of a pullback will increase.

In terms of trading, short-term positions can be lightly long based on support levels, focusing on observing whether the resistance above is broken. Do not chase the high in the upper region; after encountering resistance, consider setting up short positions when appropriate. Keep an eye on Bitcoin's correlated movements, as its volatility will directly affect Ethereum's rhythm, and be alert to the risk of a pullback after a surge.