#ETH# ### 📈 1. **Current Price and Short-Term Performance**

- **Latest Price**: ETH is currently priced around **$3,046**, up about 2.5% in the past 24 hours, successfully breaking through the key psychological level of $3,000.
- **Recent Increase**: Increased by a total of 17.31% over the past 7 days and 19.30% over 30 days, indicating a strong rebound trend.

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### 📊 2. **Technical Trend Analysis**
#### **Support and Resistance Levels**
| **Key Level** | **Price (USD)** | **Significance** |
|--------------------|------------------|----------|
| **Resistance Level** | $3,061 | Weekly 0.618 Fibonacci retracement level, target after breakout $3,524 |
| | $3,260 | Low liquidity area, may accelerate rise |
| **Support Level** | $2,972 | 4-hour Bollinger Band middle line, short-term bullish-bearish dividing line |
| | $2,814 | EMA50 moving average, breaking below may turn bearish |
#### **Technical Indicator Signal**
- **Bullish Signal**:
- The daily line breaks the descending trend line (extended from the November 2024 high), forming a bullish structure of "higher highs and higher lows."
- The 4-hour Bollinger Bands are widening, the price is stabilizing above the middle band, and the MACD shows a golden cross with expanding histogram.
- **Risk Warning**: The 30-minute RSI is at 65.1 (not overbought), but if it pulls back and falls below $2,972, it may test the $2,814 support.

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### 💰 3. **Driving Factors for Increase**
- **Institutional funds influx**:
- The daily inflow of the US spot ETH ETF reached a record **$383 million**, with a total of over **$500 million** this month, and institutional holdings surged (such as Sharplink Gaming purchasing $618 million ETH).
- CME futures open interest reached **$3.27 billion**, the highest since February.
- **Active Derivatives Market**:
- The open interest in futures increased by 5.54% in 24 hours to **$43.7 billion**, while options trading volume surged by 53%. Binance's long position ratio reached 1.61, indicating a bullish market.
- **Ecological Development**:
- Layer-2 (Arbitrum, Optimism) transaction volume and TVL hit new highs, Danksharding upgrade progresses, reducing Gas fees and improving scalability.

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### ⚠️ 4. **Short-term Risk Warning**
- **High Leverage**: A sudden increase in open futures contracts may trigger a liquidation pullback, and historical data shows that in 11 out of 13 instances following a spike in leverage, a retracement occurred.
- **Key Resistance Test**: If it fails to hold above the $3,061 Fibonacci resistance, it may drop back to oscillate in the $2,900-$2,800 range.