Recently, Ethereum suddenly surged with a strong bullish candle, and many people might not have fully reacted yet. There is indeed something supporting this rally—the latest developments in the international situation have directly ignited market sentiment.

According to the latest news, negotiations between Russia and Ukraine have covered nearly 95% of the issues, and some key disagreements are gradually being resolved. After signals of a ceasefire expectation heating up, global risk sentiment has clearly improved, and funds are beginning to flow back into risk assets like cryptocurrencies. If an agreement is truly reached, the demand for the US dollar as a safe-haven asset may decline, which is a positive for mainstream coins like BTC and ETH. The market itself is very sensitive; as long as there is such "unexpected progress," FOMO sentiment is easily ignited, and the number of people chasing the rally increases accordingly.

However, the key question is: is this a fleeting moment or a genuine trend reversal? From a technical perspective, Ethereum has already broken through the resistance around 2980, and the short-term moving averages are in a bullish alignment. The Bollinger Bands are opening upward, and the price is operating near the middle and upper bands, indicating that upward momentum is still accumulating. The MACD indicator also shows positive signals—DIF and DEA are crossing upward, and the histogram has turned red and is expanding, which indeed indicates strengthening bullish momentum.

But one point to be cautious about: the RSI has already surged to 87.39 on the 6-day line, entering the overbought zone. At this level, short-term oscillations and pullbacks are inevitable. However, in a strong market trend, high RSI levels tend to last longer than people expect. Therefore, the key is to see how long the momentum from this news can be sustained—if the positive factors continue to heat up, the breakout may persist; if the "good news" runs out, be prepared for a pullback.