Looking at these long bearish candles on Ethereum, you can feel the strength of the bears. But if you look closely at the volume, there was no significant increase during the decline, indicating that there isn't much capital truly bottom-fishing. As a result, the rebound naturally lacks strength.

Ethereum's recent rapid rise was quite sharp, and the current pullback is actually very normal—it's a typical technical correction. From a short-term perspective, there's a high likelihood of continued downward support testing.

Switching to the 4-hour chart, the price has already fallen below the middle band of the Bollinger Bands, which is a key signal indicating that the trend is weakening. The next important support level is around $3,120. Looking at the KDJ indicator, all three lines have entered the oversold zone. Theoretically, an oversold rebound does exist, but the overall downtrend hasn't changed, so any rebound is likely to be short-lived.

The core trading logic is: before the price effectively recovers the middle Bollinger Band, rebounds are good opportunities for short positions. The first target is near the previous low around $3,120. If this level can't hold, then the support at the $3,000 round number becomes the next key point to watch.

Today's strategy: Ethereum in the $3,200–$3,220 range can directly place short orders, with the initial target around $3,100.