Analysis: Ethereum tests key support and enters observation period, technical rebound structure is positive

According to Matrixport analysis, Ethereum prices rebounded after stabilizing at the upper edge of a multi-year ascending triangle. The trend now enters a critical observation period, awaiting confirmation of whether it is another false breakout or the start of a new upward trend. Previous false breakouts have shown limited downward momentum and rapid rebounds, and the current trend exhibits similar characteristics, prompting caution for a potential new round of rapid gains. Overall, the technical rebound structure is positive, but some buying may be driven by month-end earnings revisions or preemptive positioning for October seasonal market activity.