ETH's recent market movement is quite interesting. Since last night, it has been fluctuating within this range repeatedly. Although there is a possibility of breaking new lows, it currently appears to be a back-and-forth rhythm.

From a technical perspective, if you want to catch a swing, you might consider shorting at the high of 2950. It has been stuck there for a while, and the rebound to this level shows clear resistance. A pullback is only a matter of time.

The key is how fierce the actual correction will be when it finally comes. From a timing perspective, the oscillation that started last night has lasted long enough. Once the direction becomes clear, it is expected to be a relatively large move. The support level below is at 2720; if it breaks this point, it will be considered a true second bottom.

At this stage, patience is key. If you're confident at higher levels, go ahead and short, but don't rush to buy at lower levels.