Friends who have been watching the market these days should have noticed—Ethereum is finally showing some movement on the 1-hour chart. Instead of guessing the future trend, it’s better to lay out what we can see now.

**Technical Analysis**

From 2922 to 3056, this process is not a straight rally. Carefully examining the candlesticks, the highs are gradually lifting, and each pullback’s lows are also moving higher, forming a typical stepwise upward pattern. In simple terms, buyers are steadily accumulating.

The upper band of the Bollinger Bands is around 3024, and the price is just touching it. More importantly, the Bollinger Bands are widening, indicating increased volatility and that the momentum of the trend is accelerating. The MACD also cooperates well; the DIF and DEA lines have already formed a golden cross above the zero line, and although the red histogram bars have slightly decreased, they are still expanding. Overall, the bullish momentum shows no signs of weakening.

**On-Chain Developments**

Exchange-held ETH is experiencing large outflows. What does this usually indicate? Large funds are withdrawing coins, likely intending to hold long-term rather than quickly sell off. Over the past three days, the holdings of those whale addresses have been continuously increasing, aligning with the rising price. This kind of signal is quite solid in on-chain data—it cannot be explained by false breakouts.

**Fundamental Support**

Recently, various ecosystem developments related to ETH have frequently appeared in institutional discussions, and Layer 2 staking volumes are hitting new highs. These details may not be explosive news, but they do provide a solid foundation for the overall narrative. If macro risk asset sentiment improves, Ethereum, as the most active public chain asset, is very likely to be the first to break out.

**Next Steps**

This is not just a technical rebound. From the weekly chart perspective, it looks like the beginning of an upward wave. The 1-hour chart currently shows a "breakout + confirmation" signal combination. As long as the price does not fall below 3040 during the pullback (this former resistance level has now become support), the next target zone should be between 3120 and 3180.

**Practical Trading Tips**

If you are already holding positions, don’t be scared out by the oscillations. For those who are out of the market, you can wait in the 3040 to 3050 range, buy in batches, and place stops below 3020. The market fluctuates daily; the real test is whether you have the courage to seize the opportunity at the turning point. The bullish flag is rising—don’t jump off before takeoff. We will continue to monitor on-chain movements and volume changes; details determine success or failure, but the overall direction is now quite clear.