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ETH is still in a volatile consolidation after a sharp correction, and there are no clear signs of a breakdown yet.
Recently, the $3.3k level has been strongly suppressed, and the price has fallen back to the $2.9k range, repeatedly finding support. Structurally, this looks more like a consolidation zone rather than a collapse.
The key support is at $2.8k— as long as this level holds, the overall upward structure remains intact. Conversely, if ETH can regain stability above $3.1k, the bullish sentiment will be reactivated, and the subsequent momentum will gradually build.
Although the current consolidation may seem a bit annoying, it is laying the groundwork for the next directional move. The market needs time to digest this correction, and the gradual strengthening at the bottom usually follows this rhythm.