After ETH broke above 3,000 in the short-term, it failed to hold above and quickly fell back. The current price has returned to the lower range of the consolidation zone, corresponding to the small support level near 2,950. From a structural perspective, the price strength is insufficient, and the short-term remains weak. During the continued downward pressure, the probability of this level being effectively held is not high.

Once 2,950 clearly breaks down, the more significant support level to watch below is around 2,850. This level also corresponds to the 0.382 retracement level and meets the criteria for a secondary bottom in a smaller timeframe structure. Therefore, my personal plan is: 👉 Patiently wait for the price to return to around 2,850, and then consider structural long opportunities.

It is important to emphasize that at the current stage, the most important thing is not to act frequently, but to wait for the right position. Acting rashly in situations where the cost-effectiveness is not high and the structure is incomplete can easily lead to being stopped out by back-and-forth fluctuations.

Moreover, we participated in this round of rebound at relatively low points and have already achieved phase gains.
In this case, I will be more conservative in my trend judgment, with the core goal of preventing profit drawdown. It's acceptable not to receive orders, but the pace must be steady.