The recent trend of Ethereum is interesting. Looking at the on-chain data, large amounts of funds are continuously flowing in, and the market data shows a clear step-like rise pattern. This rhythm generally indicates that there are market makers silently positioning themselves, rather than scattered operations by retail investors.

From a technical perspective, the bullish signals above are already quite clear, and the rebound momentum has accumulated well. According to the current pace, if the consolidation continues, the next focus should be the 3000 level. Of course, risk management must keep up, and stop-losses need to be set properly.

Currently, the position is still leaning towards bullish, but it depends on the sustainability of the on-chain funds. If the enthusiasm cools down, the rebound may easily falter. In short, it is worth continuing to pay attention to the on-chain trends of Ethereum in the near future.