The trend of $ETH is in line with expectations, with prices first breaking below 2380 USD, but BTC has not yet broken below 100400 USD, so it is recommended that bulls hold off for now.

From a macro perspective, ETH is in a halved structure, this viewpoint will be discussed later. The current price trend is in line with expectations, around $2900 is the previously deduced divergence point, and also the first category selling point; I hope you have already exited.
A sign that a central zone has completed is the emergence of a third category selling point in its price trend; conversely, it continues to oscillate.
Trading cannot rely on guessing; imagining that certain favorable factors support one's belief in a price increase is meaningless. The reason ETH cannot rise in a straight line is simple: a new high must inevitably diverge, so there is no probability of forming a third category buying point.
Without the emergence of a third category buying point, it cannot escape the gravitational pull, thus the gravity will pull the candlestick back into the central zone to continue oscillating. $2380 is the lower edge of the central zone; a retest or a drop below this position is a normal phenomenon.
Returning to the main topic, let's break down the 5-minute price trend from the decline around $2900 to the present. There are three categories:
(1) As shown in Chart 1, oscillating to form a B central zone, making it the same level as the A central zone, completing the standard a+A+b+B+c structure, where c is the exit segment;
(2) As shown in Chart 2, oscillating to form a larger B central zone, turning a+A+b into central zone components (entry segment), and finally going through c as the exit segment.
(3) No chart, a decline without divergence suddenly reverses; a small buy turning into a large one appears with a large bullish candlestick rebounding upwards, temporarily disregarding this low probability event.
In general, the current decline has no divergence, and the essence of the market still has new lows; even if there is short-term oscillation, do not take risks betting on long positions. Because the market can directly break below $2380 without oscillation, thus there is no operational value in long positions.