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Ethereum's recent sideways movement during this decline is indeed a bit concerning. Yesterday, I wanted to hedge my position, but I found that the short position limit was quite strict, allowing a maximum of only 2000 USDT, so I ultimately gave up.
Since the hedge didn't work out, I added some positions at the 3170 level. Looking at the 15-minute chart now, a bullish bullish divergence pattern has appeared, which is a pretty good signal. However, to be honest, whether this wave can be smoothly unwound remains uncertain; the previous long position situation is also quite similar.
The short-term technical outlook has improved, but market sentiment remains cautious. Continue to observe the subsequent trend and see if it can break through the previous resistance level. The market is like this—sometimes persistence pays off, and sometimes you have to accept the reality of being trapped.