Ethereum's recent trend has made bullish investors a bit uneasy. The market players are eyeing the 3052 level, where a large number of stop-loss orders are accumulated.

This morning, I was planning to suggest fans enter long positions, but Ethereum has indeed been somewhat "temperamental" today — it has been continuously declining since the early trading hours, with a drop of nearly 4%. According to the analysis framework of Chan theory, a bottom divergence has already appeared on the 30-minute chart, but considering the significant drop below the central zone, it is very likely to form a third sell wave at the 30-minute level. The key now is whether this third sell wave will transform into a second buy or continue to break downward into a first sell wave, which depends on the rebound strength on the 30-minute chart tonight or early morning. To be honest, the most reliable trading signal in Chan theory is the second buy; others require ongoing observation.

From the four-hour chart perspective, the probability of further decline toward 3052 is quite high. Since there are many stop-loss orders there, I tend to believe that the price will first break below the daytime low of 3083, which could then trigger a four-hour level rebound. However, this is just a reasonable speculation based on the current situation; Chan theory emphasizes "following the market" rather than predicting it. How the market will move depends on price action, and I will update my outlook immediately if there are new developments.