I mentioned last weekend that a short-term rebound for Ethereum should be capped at 3200, and you definitely shouldn’t chase it near that level. Why? Because there’s a clear risk of a second pullback.

So what happened? Yesterday, ETH just broke past 3200 before turning downward, and now it’s dropped straight to 3100, retracing over 100 points in one go. This move is almost exactly in line with what I predicted.

Sometimes, that’s just how the market works—you have to hold your ground at key levels. Chasing impulsively at the top is an easy way to get stuck.