Ethereum's price movement last night mostly maintained a bottoming pattern. As we approach Friday, the probability of large capital inflows is not high. During holiday periods, market liquidity typically contracts, and the overall trend tends to be sideways and weak. The current price level is in a rather awkward range—neither high enough nor low enough—making it easy for both bulls and bears to get trapped.

From a trading perspective, it is recommended to first observe whether the price can effectively break below the key level of 3250. If the break is successful, short opportunities will arise. Conversely, if the price does not break below or oscillates around 3250 repeatedly, consider gradually adding long positions around 3260, targeting 3320. If a true breakdown occurs, shorts can enter at 3250, with take-profit targets anchored around 3200-3180.

Currently, US core inflation data is weak, and institutional interest in increasing Bitcoin holdings is rising. MSCI's attitude toward digital asset treasury solutions is also adjusting, all of which support the market's fundamental outlook.