I really didn't expect this wave of Ethereum's downward movement to last so long. It has been falling steadily since August, and the 3100 level was broken just like that.

To be honest, I don't dare to buy the dip at this point. Many people might think, "Since it has fallen so much, it should rebound now," but just look at this trend—there is clearly capital continuously shorting, and every slight rebound feels like fishing. The traces of big players offloading are too obvious.

In my personal judgment, since the strong support at 3100 can no longer hold, it is highly probable that we will continue to see a fall toward the vicinity of 2800. There may be some pullbacks in between, but I think those rebounds will just be typical traps to entice more buyers. If you have a heavy position, you need to withstand the psychological pressure during this period, keep your eyes on the final target, and don’t be shaken out by the fluctuations along the way.

Of course, this is just a personal opinion. The market changes rapidly, and everyone should operate according to their own risk tolerance.