$SOL Recently, I also drew a Fibonacci retracement here. Currently, the effectiveness of this retracement looks quite good.

The recent trend of Ethereum has indeed been very strong, continuously rising as if it had taken gunpowder. From the daily chart, it has risen nearly 9-10 points from a low position and has performed very strongly since the end of April. Moreover, a couple of days ago, Vitalik Buterin tweeted that he was inspired by the CEO of MicroStrategy to create a company that would continuously buy Ethereum, which may replicate MicroStrategy's model of continuously issuing stocks to raise cash to buy Bitcoin. Although the specific implementation time is still uncertain, I believe this is indeed a positive sign.

From the market perspective, Ethereum has recently fluctuated around my fib retracement levels of 0.382 and 0.5, which were also the previous range where it stopped falling. 0.5 (approximately 2700) is the resistance zone for Ethereum recently, and if it breaks through, I believe it could reach higher levels of 0.628 or even 0.786.
Ethereum's fluctuations mainly follow the trend of Bitcoin. Experienced traders know that if Ethereum becomes strong, Bitcoin's trend cannot hold it back. Therefore, I believe Ethereum is not currently in a trend that is widely recognized and absolutely strong in the mainstream; it resembles a more volatile trading pair, jumping up and down.

For day trading, I suggest a short position near 0.5, around 2780, which is also the take-profit point for long positions. Below, at 0.382, around 2490, you can try going long, but be cautious of spike points. Ethereum's volatility is relatively high, usually between 4-6%, so it's best to set stop-losses within this range; otherwise, it's hard to withstand volatility.
The increase in Ethereum may exceed 10 points, so it is advisable to enter in batches. For example, enter the first position at the 0.382 level, the second position at the lower third point, and so on.
Typically, Ethereum's daily volatility is around 6%, and if it breaks this range, it indicates a significant one-sided trend. If you incur a loss, do not hold onto the position to avoid liquidation.
The benefit of building positions and taking profits in batches is that it can better cope with volatility under the same loss scenario. For instance, if you enter at a certain point, it may still fluctuate downwards by 4-6%. If the daily fluctuation exceeds 10%, entering in batches can better handle such volatility. Even if the first two trades result in losses, if the direction of the third trade aligns with the market trend, you might still recover the losses from the first two trades. This is a trading method I personally prefer, and others may consider it.