From a structural perspective, ETH has completed the main decline phase from 3308 to 3050. The current rebound is not a trend reversal but a correction after the decline.

The current price is around 3180, just touching the core resistance zone on the 4-hour timeframe. The next direction depends on the performance at several key levels: the 3180 to 3200 range is the critical line for whether the rebound can continue; to truly reverse the trend, it needs to stabilize above 3250; the first support is at 3120 to 3100. If it breaks below 3050, it will essentially confirm a second decline.

Operationally, the yield from chasing longs above 3180 is not ideal, so it’s better to wait for a rebound to stabilize around 3120 to 3100 before entering. For shorts, you can try a small position when volume increases and momentum stalls around 3180 to 3200, but strictly implement stop-loss—if the long position loses 3050, cut it; if volume increases and it breaks above 3250, admit defeat on the short.

In simple terms, this is now a game of whether the rebound can break through the pressure. If it cannot hold above 3200, don’t expect a reversal; if it doesn’t break below 3120, the rebound still has life.