#ETH走势分析 $ETH After breaking through $3,200, the market has started to diverge.

The three consecutive bullish days brought by the Fusaka upgrade are indeed impressive. Daily trading volume has even surpassed BTC, making capital flows worth watching. But the key question is: how far can this rally go?

The bullish reasons are clear: PeerDAS expands Layer2 data capacity by 8 times, a major traditional financial giant has opened ETH ETF subscription channels, and new address growth is over 13%. From a technical perspective, the price is moving along the EMA7 line, with a short-term target of $3,510. Some are even calling for a high target of $5,000.

But the risks are equally apparent. The daily RSI has already soared above 70, entering overbought territory. The $3,300 level has historically acted as a top multiple times. There's also a bearish flag pattern on the chart—if the $2,850 support is broken, the next stop could be $2,200. Data shows long-term holders are reducing positions, and spot ETFs have seen net outflows.

This is not the time to bet on direction. $3,100 is the current support, and $3,300 is the resistance. Chase if it breaks out, exit if it falls below. How would you operate?