It was previously mentioned that after Powell's speech on December 11th early morning, there would be a sharp rise followed by a pullback, and indeed, this was confirmed at 4 a.m. today. After the rate cut was implemented, the market reaction largely aligned with expectations.

Ethereum touched above 3437 yesterday, just hitting the pressure zone we mentioned on the 9th. Being able to predict this in advance indicates that our technical analysis at the time still has some reference value.

The key question now is: how long can this rebound last? Will it continue upward or start to adjust? What price level is the more appropriate entry point?

From the current trend, the short-term focus should be on whether it can hold above 3400. If trading volume cannot keep up, there may be another retracement. The Federal Reserve's policy expectations have already priced in some of this, and the next step depends more on the market’s own emotional recovery pace.