Ethereum shows a clear turning point. The price successfully breaks through the previous downward wedge pattern and stabilizes above the 0.382 Fibonacci retracement level, releasing a positive technical signal. Based on the current momentum continuation logic, it may briefly reach three key levels: $4950, $5760, and $6690. However, this bullish outlook depends on Ethereum holding above $3400 to confirm the validity of the breakout. If this support level is lost, the downside risk shifts to $3200. In terms of trading activity, the daily average trading volume remains around 2.6 million, reflecting moderate market participation. Whether this rebound can develop into an independent trend depends on whether it can effectively break through the resistance above.