Recently, the Ethereum market has shown remarkable performance. Last Tuesday, Ethereum broke through the 50-day MA around the $2429 mark, turning that price level into support. On Sunday, long positions made a strong push again, successfully breaking through the important resistance level of $2461.

From a technical analysis perspective, if Ethereum can firmly hold above $2461, its upward trend may continue, with the next target possibly being the daily resistance level at $2724.

The technical indicators at the daily level are also conveying positive signals. The Relative Strength Index (RSI) currently reads 52, above the neutral level of 50, indicating that bullish sentiment in the market is strengthening. More notably, the Moving Average Convergence Divergence (MACD) is forming a "golden cross" pattern, with the MACD line about to break through the signal line. If this crossover is confirmed, it will release a strong buy signal, providing support for long positions.

However, there is always uncertainty in the market. If the short-term trend weakens and Ethereum's closing price falls below the 2461 USD support level, a reversal may occur. In this case, the price may decline further and test the support area at 2429 USD where the 50-day EMA is located.

Currently, the Ethereum market is experiencing intense confrontation between long positions and short positions. Although the technical indicators show positive signals, investors still need to closely monitor changes in key price levels and carefully assess risks. Given the high-risk and high-volatility characteristics of the cryptocurrency market, investment decisions need to be particularly cautious.