ETH has broken through the upper bound of the fair value range, which usually indicates that the upward momentum is likely to continue— but only if it can hold this level.

At the moment, I expect a period of consolidation or a more intense decline. This kind of adjustment is often to clear out leveraged long positions betting on a rise and to build a more solid foundation. Once this round of volatility is over, the rebound will be stronger.

In the short term, we need to closely watch whether the support levels can hold, as this will determine the subsequent pace.