From a technical perspective, Ethereum's current trend is worth paying close attention to.

Yesterday's rally was mainly driven by the continuous net inflow of ETF funds, but from a larger time frame candlestick view, when the price broke below the strongest support level on the daily chart, there was a clear presence of buy-in funds stepping in to defend the price. This detail is very important — it indicates that the bulls have not truly given up on this price level.

However, in the long term, whether the 3000 level can hold determines the next direction. If the support continues to break after 22:30 tonight, it is highly likely to trigger a downward trend. Historically, once support is lost, the price often drops directly to around 2870 or even 2850. In such cases, the previously established long positions may face significant pressure.

The current opportunity lies in those long positions that entered at high levels; if they do not cut losses in time, they may face rapid liquidation. Conversely, if bears can seize the opportunity to enter during this period, the subsequent profit potential is relatively considerable. The specific target range to watch is between 2870 and 2850, which is a relatively valuable downside target.

The performance over the next two hours will be crucial, requiring close observation of trading volume and market capital flow changes.