Ethereum's recent months' trend is very clear when looking at the 3-day chart—several obvious bottom formation points have led to subsequent big rallies.

Let's review the history. At the end of September 2024, a bottom was formed around 2250, followed by a rally all the way up to 4120. By mid-April 2025, a trap was set at 1580, which was directly reversed to reach 2880. After retesting 2150, it continued to surge, reaching a high of 4950. Now, in mid-December, a new bottom has been confirmed, but it is currently oscillating repeatedly around the 3050 zone—this is the test moment.

Here’s the key point: once the 3050 level is effectively broken, the subsequent space for a true surge opens up. If it breaks down instead, it’s just a trap to deceive traders and set up a false bottom. Recently, data shows that 1011 whales in the ETF market have 5x leveraged positions on Ethereum. Such large capital inflows usually indicate a bullish signal at the institutional level.

I have already started to re-accumulate my spot holdings. The crucial point is whether it can stabilize above 3050 and then break through this resistance level—if it can hold steady, the next move has significant potential. Next week, from Tuesday to Thursday, will be critical; we need to watch whether it’s a genuine breakout or a false signal.