While waiting for a long-term structural direction, the short-term trend is usually driven by the following factors. You can keep an eye on:

Key technical levels: Pay attention to the resistance at the upper boundary and support at the lower boundary of the triangle pattern mentioned above. The market's reaction around these levels (such as whether it can hold steady or break through) is often a signal of short-term strength or weakness.

Overall market sentiment: The correlation between mainstream cryptocurrencies like Ethereum and Bitcoin remains strong. Keep a close watch on global macroeconomic news, regulatory developments, and Bitcoin's price movements, as these are key factors influencing short-term sentiment.

Fund flow data: The inflow/outflow of funds in spot ETFs provides a direct window into institutional capital movements and has an immediate impact on prices.

On-chain activity: Although most retail activity has shifted to Layer-2 networks, the overall activity and Gas fee changes on the Ethereum mainnet as the settlement layer can still reflect the network's actual demand and congestion levels.

Important reminder: The above analysis is based on market views as of the end of December 2025. Cryptocurrency markets are highly volatile, and all analyses are opinions, not facts, and do not constitute investment advice.