ETH's recent decline has been quite sharp, and many retail investors are indeed feeling the psychological impact. However, upon closer examination of the technicals, the situation might not be as bleak as it seems.

From a Chan Theory perspective: the 30-minute level wave structure has already completed, and a potential divergence signal has appeared. In this case, if after 10 PM tonight a secondary buy point can form on the 30-minute chart, it would be a relatively reliable rebound entry opportunity. However, the current daily candlestick pattern is not very attractive, so it's best to hold back for now.

The key is whether the 4-hour rebound can break new highs. If it can't, then the strategy needs to be adjusted—shift to a short position on the daily timeframe, riding this wave of decline. The market moves quickly, but patience in waiting for the right setup often yields much better profits than blindly chasing highs. Calm traders are now waiting for this signal.