From the current technical perspective, there is still a chance for ETH's bullish positions. If the market can rally quickly after the US Eastern Time opening, we are likely to see a rebound in the 3600 to 3700 range — which is basically a dead cat bounce. Afterwards, entering the first quarter of 2026, a new round of pullback pressure is expected.

It is worth noting that in the 365-day and 30-day rVWAP, the stock market is hitting new highs. At the same time, silver and gold are also performing very well, either already reaching historical highs or about to do so. The overall macro environment remains quite interesting.