Ethereum midday trend: I currently lean bearish.

Last night's market action was quite interesting, with clear price wicks both up and down, showing strong correlation with the US stock market. However, the closing candle still ended lower, which is a signal worth noting.

Now, the small-scale rebound is already starting to weaken. I think it's best to keep an eye on the 3100 range and see if support can be found there for a potential rebound.

To be honest, I'm personally bearish at this level, but not very confident. I'm waiting to see if the price will rebound to around 3200—if it does, I'll consider going short at that level. If the price can't reach 3200, then I'll wait until the evening session to see how the pattern develops before making a decision.