The short-term key level for Ethereum is the 2960 resistance. Whether it can effectively break through this level largely determines the market direction in the coming days. In simple terms, it depends on whether the four-hour candlestick can stay above this point.

If the four-hour chart indeed pulls up and breaks through 2960, the probability of a rebound increases. At this point, consider entering a long position with a small amount, targeting the 3000 to 3037 range—this area previously accumulated a lot of positions, and the resistance is quite clear. When the price reaches this zone, you can reverse and short, placing the stop loss above 3050. This approach helps prevent extreme market risks and locks in profits from previous longs.

Conversely, if the four-hour chart fails to hold above 2960, it indicates insufficient momentum for a rebound, and the market is likely to continue downward. In this case, the first line of defense is the 2900 integer level, which has both technical and psychological significance. If it can hold, there’s still a chance for a short-term stabilization. Once 2900 is broken, there’s little support below, and the next focus is on whether the 2820 to 2770 range can hold—this area was a dense low-level zone previously, providing some support, so look out for long opportunities here.