Ethereum has been declining from the short-term high of $3,308 and has now broken below multiple moving average supports. From a technical perspective, the MACD has formed a death cross below the zero line, indicating that the bearish momentum is still relatively strong.

In the short term, it may be prudent to adopt a wait-and-see approach or lightly short. If you want to trade, it is recommended to keep the position within 30% for safety. Specifically, consider taking profit around the $3,000 level and setting a stop-loss at $3,200. These price levels are clear support and risk points, with previous highs nearby, so they warrant close attention.