Recently, ETH spot ETF performance has been good, with net inflows exceeding $470 million for four consecutive days. This data indicates that real money is entering the market. At the same time, the staking rate has reached 29.4%, meaning 35 million ETH are locked in staking, which provides support from the supply side. Additionally, the Cancun upgrade to the mainnet is scheduled to be implemented later this month, and the Layer 2 ecosystem benefits are expected to gradually transmit to ETH.

From a technical perspective, the daily chart shows a triangle convergence pattern, currently oscillating around 3280. Interestingly, this correction wave is weaker than previous ones—support was found after a 150-point retracement from the high, demonstrating strong bullish resilience.

Key levels to watch: support below at 3230 and 3180, resistance above at 3350 and 3400. If the price breaks through 3400, it could potentially surge towards 3580. Conversely, if it falls below 3230, then the 3150 support zone becomes critical.

In the short-term strategy, the market remains bullish. During pullbacks, small positions can be tested, but chasing rallies should be avoided. The key focus is whether 3350 can be effectively broken, as this will determine the subsequent momentum.