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I've seen this rhythm many times. When patience runs out and it seems like it won't drop further, everyone starts to enter the market, followed by a big waterfall. The pattern is always the same, and it always works.
My judgment on ETH remains in the range of 1800 to 2100. Using wave theory, the current decline is part of the second wave of a three-wave correction, and the retracement won't be too shallow. According to conventional rules, it typically retraces about 80% of the previous upward move, pointing to the 2000 level.
From the perspective of the retracement wave structure, I observe a standard ABC three-three-five platform-style correction, with wave C showing an extended diffusion platform pattern. This pattern usually indicates that selling pressure is gradually being released.
Interestingly, using Fibonacci extension to calculate, the target also points to around 2000—this creates a double validation. The 2000 level coincides with ETH's annual average cost basis. The resonance of multiple factors makes the support at this price level significant.