Recently, I've been closely watching the market, and ETH's performance is indeed worth paying attention to. This wave of movement seems a bit subtle— the midline has been broken, which is not a small event.

Here's a simple explanation of the core logic: We previously discussed that ETH's trading range is roughly between 2900-2936. Within this range, the price typically oscillates back and forth between the midline and the lower boundary, which is a very typical "safe oscillation pattern." Many traders have been gradually adjusting their strategies and reducing risks during this process.

But the key change is here—once the midline is broken, the previous oscillation logic becomes invalid. From a technical perspective, what does this mean? Simply put, the bulls' defensive line has been breached. Looking at the hourly chart, the highs have been slowly declining, a typical sign of weakness. At such times, the bulls have no real power to counterattack, and the bears take the initiative.

Some might think: Should I start bottom-fishing now? My view here is conservative. Until ETH reclaims the midline and can stabilize above it, the overall trend should still be viewed as "oscillating downward." Entering with the expectation of a rebound carries relatively higher risk.

Of course, this doesn't mean there are no opportunities at all. Instead, we need to wait for clearer signals—such as a bottom formation, volume confirmation, or key support levels being validated. These are all things that require time to verify.