From the current market structure, Ethereum has been in a continuous bullish rally on the daily chart since forming a bottom. After breaking above the upper Bollinger Band, it retested but did not effectively break below the box support; on the 4-hour chart, a stepwise oscillating upward structure has formed, with the middle Bollinger Band continuously moving upward. The pullback is weak and lacks sustainability, representing a typical accumulation and consolidation pattern. The bullish trend has been established, and traders can continue to wait for pullbacks to enter long positions at lower levels.