ETH consolidation above trendline suggests potential for wave (5) extension, though the current rally may still represent wave iv of the correction cycle. Looking ahead, another pullback to complete the corrective structure remains likely.

Here's the key level to watch: a clean break above $3,658 would signal price has found its bottom. That move would shift the bias decisively bullish and confirm we're entering the final impulse wave higher. Until then, expect range-bound action with periodic tests of support.