Last night, ETH experienced back-and-forth fluctuations after a night of ups and downs, with the overall volatility range gradually narrowing. The lower lows are also continuously moving up, showing signs of stabilization. With multiple bottom formations in the short term, there is hope for a rebound. However, from a larger perspective, it still looks like a downward oscillation. The MACD indicator's fast and slow lines are operating below the zero axis and are continuing to diverge downwards, with short positions dominating. The daily chart shows multiple bearish belt holds and long upper wicks, indicating heavy selling pressure above. Keep an eye on the resistance around 2850 above and the support around 2724 at the bottom.