Let's review and follow up on the ETH market trend: →♥

The last resistance area mentioned last night was 3163–3178. In the end, the price did get pushed down from there. In the live stream, I pointed out the main support around 3078 where you could catch a rebound. This was also our first take-profit target for the short position at 3075, and the lowest point reached was exactly 3074.55. If you set your order at 3075, you could have caught a wave of rebound long. As for the long-to-short switch in the 3140–3155 area later on, due to timing (it was too late), I didn’t make a prediction in advance, so it might not have been actionable.

Looking ahead, the highs are also trending lower. For this kind of movement, the main thing to consider is whether there’s a chance to fall back to the 2800+ area to pick up long positions. This is very important, so every small step in the price movement from here needs to be viewed within this framework until it either plays out or fails. During this period, I’ll also point out smaller structural levels, just like last night’s smaller-scale long/short switch operation.