November 25th Short-term pressure at the closing and subsequent trend prediction: During the closing phase, Ether's upward momentum slowed down, with the price slightly retreating to around $2900. From the market structure perspective, it is still in the second wave pullback cycle. Although it has stabilized in the short term, it is still constrained by key price levels in the long term. If it can hold above the daily chart pivot level of $3020, it is likely to enter a horizontal consolidation phase; if it fails to maintain the $2800 support level, it may dip again to the liquidity area of $2650, and even face the risk of falling to the demand area of $2500. However, the continuous capital inflow into Ether-related ETFs and the activity of the Layer2 ecosystem provide potential support, which may attract long-term investors to get on board and absorb sell pressure during the decline.