Ethereum successfully broke out of a two-month symmetrical triangle, re-establishing itself above the key resistance level of $3400-3600. From a technical perspective, the daily RSI has surpassed the 60 mark, indicating strong upward momentum. If the support at $3200-3300 can hold, there is potential to advance towards the $3600-4000 range. The medium-term target is set near the 200-day moving average around $3800. Of course, there are also two defensive lines at $3000 and $2700 below. Looking at the derivatives market, futures open interest has reached 19.2 billion, indicating significant participation. Whether this breakout can sustain depends largely on whether the recent support levels can be maintained.