The US stock market is closed during the Christmas holiday, and market liquidity has contracted, but Ethereum still has short-term rebound potential. Overall, it remains in a range-bound oscillation pattern without any obvious signs of a significant downward trend.

Last night, ETH bottomed out at 2886 and quickly rebounded, leaving a long lower shadow, indicating decent support at lower levels. Looking at the 4-hour K-line, the MACD bullish momentum is accumulating, but attention should be paid to the 2970 level—it's an important previous resistance. Only a short-term breakthrough above it can truly open up upward space.

For trading, it is recommended to participate in the rebound with a light position. The key focus is whether 2970 can be broken. The volume support is crucial. If it breaks through and trading volume increases, targeting around 3000 is possible. Conversely, if it fails to break through effectively and trading volume starts to shrink, caution is needed for a pullback risk, and stop-loss preparations should be in place. During the holiday period, light trading can amplify volatility, so risk control is essential.