The analysis focuses on Ethereum, emphasizing recent momentum initiative candles on the 4H and 1H timeframes as positive signs. The speaker notes Ethereum formed a local bottom around 2700-2800 USDT, hitting a fair value gap and a support zone. Despite the yearly rolling VWAP around 3080 USDT, the potential for further upward movement is noted based on bullish signals in Bitcoin. The speaker assumes, based on the Etherum bullish signals that the ETH price could reach 3250.00 USDT. The speaker sets the invalidation bound in 2950.00 USDT. The analysis acknowledges a degree of over-leveraging and mentions potential near-term pullback around 2970-2940 levels before the price reaches the speaker's target.