Recently, Ethereum has been fluctuating in a downward channel with a clear pattern—oscillating and rebounding during the day, then accelerating downward at night. Recently, after touching the upper resistance, it plunged sharply, then retested the lower support, and directly broke through the short-term lows. This indicates that the bears still have strong momentum, and the subsequent trend is likely to be a rebound followed by further selling. The daily chart shows a death cross, which will require time to gradually repair.

From a smaller timeframe perspective, there is a rebound demand when touching support. My approach is to continue looking for opportunities to go long in the 2830-2800 range, with target zones at 2930-2960 above. If a rebound profits are made, take profits and don’t be greedy. Currently, the market is quite volatile. If during the rebound a small timeframe shows signs of a top formation, I will consider closing long positions and switching to short. The specific operation will depend on real-time candlestick performance.