$ETH begins a new journey

$ETH ‌ Short Trading plan: Entry: 2625.9 – 2647.7 Stop-loss: 2684.8 Take-profit 1: 2557.0 Take-profit 2: 2500.5（+_3） Take-profit 3: 2450（+-3）

The AI Rally Now Faces Its Real Test A 1.69% Nasdaq rally can change sentiment—but it cannot prove a new market cycle. The real test begins after the headlines disappear and the next earnings arrive. So what should traders watch before deciding what this AI rebound really means? Across this five-part journey, the market has given us four important clues. First, momentum returned sharply. Nasdaq gained 1.69%, while the VIX fell 10.23%. Second, participation broadened. Tempus AI, Supermicro, Astera Labs, Arm and multiple semiconductor names all advanced strongly. Third, the macro backdrop remains challenging. The Fed raised rates to 3.75%–4.00%, while Treasury yields remain elevated and another rate increase remains possible. Fourth, AI infrastructure continues to attract enormous market attention. Now comes the confirmation phase. Five indicators deserve attention. Price: Is momentum continuing? Volume: Is participation expanding? Earnings: Are AI expectations translating into actual financial growth? Valuation: How much future optimism is already embedded in prices? Liquidity: Can risk assets absorb higher rates and tighter financial conditions? This framework also works in crypto and Web3. For a token, traders examine tokenomics, liquidity, on-chain activity, exchange flows and ecosystem growth. For AI equities, the equivalent framework revolves around earnings, capital expenditure, demand, valuation and market liquidity. Different markets. Similar discipline. And that is perhaps the most important lesson from this rebound. A rally is information. It is not a verdict. The market has reopened the AI conversation, but the next stage will be determined by whether momentum survives contact with fundamentals and macro conditions. After five parts of data, liquidity, infrastructure and valuation analysis, which signal would you watch most closely to confirm the next AI move: earnings, volume, valuation, macro liquidity, or real AI demand? This content is not investment advice. Always perform your own research before making financial decisions. $BTC $GT $ETH #GateSquareMidAutumnReunion #USAIConceptStocksReboundAcrossTheBoard #Gate广场中秋团圆局, #美股AI概念股全线反弹 #JapanRealEstatePowerChipStocksRise