From a technical chart perspective, Ethereum is currently within a highly converged "symmetrical triangle," with volatility continuously decreasing, indicating an upcoming directional choice.

Upward path: If a decisive breakout is achieved, the first target is the high point of December last year at $3,447. Successfully breaking through this level and reclaiming the 200-day moving average (around $3,636) will be a key signal of a mid-term trend reversal to bullish.

Downward support: The critical structural support level is in the $2,600-$2,700 range. As long as the price remains above this zone, the market is still in a healthy consolidation. A break below could trigger a deeper correction.

Analysts point out that the Relative Strength Index (RSI) on the 4-hour chart has risen back above the neutral 50 level, indicating that short-term buying momentum has slightly increased, building energy for an attempt to push higher.