Ethereum (ETH) has recently shown a strong consolidation pattern in the $3500 range, indicating market recognition of this price level. Despite experiencing a brief pullback, buying support remains strong, especially near the 30-day moving average. Multiple technical indicators are showing divergence signals, suggesting the market has completed a healthy round of adjustment.

This period of consolidation is actually a process of self-purification for the market, where short-term speculators gradually exit, while steadfast long-term holders take the opportunity to increase their holdings. This reallocation of chips is crucial for the long-term healthy development of the market.

From a fundamental perspective, Ethereum's ecosystem is quietly gaining momentum. Layer 2 solutions continue to optimize, providing new possibilities for network expansion. At the same time, the locked value in the decentralized finance (DeFi) sector is also showing signs of recovery, reflecting that user confidence in the Ethereum ecosystem is returning.

Looking ahead, the ETH ETF that may be launched by the end of the year will become an important catalyst for the market. Once regulatory approval is obtained, it will provide a more convenient channel for institutional investors to enter the market, likely driving a new round of capital inflow.

Currently, market sentiment has shifted from panic to cautious optimism. For visionary investors, this may be a rare opportunity to position themselves. However, investors still need to remain vigilant, closely monitor market trends, and manage risks effectively.