Ethereum is currently fluctuating around 2926, continuously testing the support in the 2850-2900 range on the 4-hour chart. Market sentiment is clearly bearish, with significant net outflows observed in the market data, and short-term panic does exist - this is also the consensus of most people.

But the more it is like this, the more we must remember: never short at low levels. This wave of decline is more like a technical correction after the main force dumped, rather than a trend reversal. The RSI is approaching the oversold area, and the MACD green bars are shrinking, indicating that the downward momentum is actually weakening.

The morning thought is very simple: hold the key support at 2850, and the rebound will first look at the pressure zone of 2980-3000. Don't let panic dictate your actions; the risk of chasing short positions at low levels far outweighs the opportunity.