The analysis on Ethereum (ETHUSD) confirms that the market is adhering to initial expectations. A previous update suggested the formation of a low within a defined support region, leading to an expectation of higher prices into late December and early January. The earliest bullish indication was the activation of a 1-2 setup. The critical support area for the weekend was identified between $2,827.73 and $2,923.88, which has held, and the market is now moving away from it. The current phase requires follow-through, with the price ideally maintaining position above the established yellow trendline. The projected target for this upward movement, referred to as the 'blue target area,' is between $3,143.86 and $3,314.68. Specifically, the 100% Fibonacci extension target at $3,143.86 is highlighted as a particularly relevant and ideal objective for a C-wave completion. Subsequent structural resistance levels are identified around $3,075, $3,105, $3,143, and $3,185. The analysis indicates positive upside momentum, with the market performing as anticipated. The presence of a 1-2 setup, and subsequently a 1-2, 1-2 setup, followed by a break above the trendline, serves as additional confirmation for the bullish sentiment. While continued upward movement is expected, a sharp rejection that causes the price to dip back into the support region, particularly below $2,827.73, would invalidate the current bullish outlook.