Recently, the daily chart movement of ETH has sparked quite a bit of discussion. That bearish candle indeed caused some panic, but if we look at it over a longer cycle, things might not be as simple as they seem on the surface.

Let's first review the context of the past two months. The key is the stabilization zone after a sustained downtrend on the left—shrinking trading volume itself is a signal, indicating that selling pressure is weakening, which usually means the downward momentum is exhausted. The sideways consolidation in the middle looks quite frustrating, but multiple tests of support levels without breaking through suggest that funds are quietly accumulating. This kind of technical pattern often indicates a trend reversal.

The most worth pondering is the recent daily bearish candle. On the surface, it looks alarming, but the details tell a different story: during the decline, there was no increase in volume, indicating this isn't genuine panic selling; after the drop, the price quickly recovered the key levels the next day, and this rapid rebound is quite interesting. Coupled with the current market sentiment gradually shifting from fear to optimism, the possibility of a false breakdown is indeed significant.

From a technical perspective, repeatedly holding support without breaking is a positive sign. The entire trend chain points in the same direction— the downtrend may have come to an end. If a confirmed breakout above the resistance level can be achieved, the upside potential is worth期待. Of course, the market is always unpredictable, and any judgment must incorporate risk management. The key still depends on whether trading volume can effectively cooperate; this is the real test of whether the upward movement can be sustained.