Ethereum successfully consolidated the key support at $2890 during the early morning hours, testing multiple times without effectively breaking below, accompanied by a rapid rebound. This indicates a solid buying interest below this level. The price has formed a clear defensive pattern locally, providing a technical basis for subsequent rebounds.

If the price can further stabilize above the $2930 level in the early hours, it suggests that the short-term consolidation pattern may be broken, and upward momentum will be strengthened. At that point, the price is expected to attempt to retest the $2950 level or even higher resistance zones (such as $2980-$3000), forming a new short-term upward trend. #内容挖矿焕新公测开启 $ETH

Overall, Ethereum's resilience at the key support level has created a bullish technical environment. Future focus should be on the confirmation of the $2930 level; if volume increases and it stabilizes, it can be considered a bullish signal. In terms of operation, consider positioning after effective stabilization, while setting stop-loss below the $2890 support to prevent false breakouts.