Ethereum recent market performance is showing critical changes, with short-cycle technical structure momentum beginning to shift. The RSI trend line of ETH/USDT has broken down, indicating that the previous upward momentum has clearly weakened, and the market is about to enter a new operating rhythm.

The ETH/BTC trading pair remains relatively stable for now, but the structure is approaching a critical point. Once it breaks, it can easily trigger cascading effects and amplify subsequent volatility.

Often, prices haven't yet shown obvious reactions, but internal momentum and structure have already changed ahead of time. Surface calm does not mean trend stability.
The current overall market remains in a state where bullish and bearish factors are intertwined. Mainstream assets appear resilient but actually rely more on capital and sentiment support rather than solid bottom structure.

Combined with recent large-scale options expiration, key settlement nodes in traditional markets, and other events, while these don't directly determine direction, they easily amplify existing volatility and accelerate trend selection.

Overall, the market is in a momentum conversion period: upward pace is slowing, and new direction remains unclear.
Going forward, the focus is no longer simply on bullish or bearish predictions, but on observing whether structure continues to evolve and whether various trading pairs can form resonance.
In this phase, tracking changes is far more important than predicting conclusions.$BTC $ETH #以太坊L2叙事再升级