The recent price drop of ETH in the early morning was indeed quite fierce. Last night's dip was basically stuck at a key support level, and then funds directly pumped it up, with many short positions still reacting, and the price has already held above the neckline.

The signals from the K-line still look relatively clean. The MACD has formed a golden cross upwards, and the trading volume is gradually increasing. This combination of patterns is usually not just a false move; it often indicates that an upward trend is building up. Moreover, with the recent improvement in the capital situation and a noticeable increase in activity, the intentions of the main players have actually been reflected in the market.

In the short term, the range between 2960 and 2940 is worth monitoring closely, as it is a relatively solid defense area for bulls. On the upside, 3070 is a resistance level that needs attention. Once it effectively holds above this level, the upper space will open up, and the initial target can be around 3170.

No matter how the market moves, risk management must be prioritized; no matter how beautiful the trend, it can't exceed the line. Essentially, this market tests whether you can foresee the structure in advance and whether you have the courage to execute. Many people always lag behind, getting shaken out by the back-and-forth fluctuations; in fact, it just comes down to a slight difference in grasping the rhythm.

Continue to pay attention to the performance of $BEAT and $RIVER.