Let's talk about Ethereum. It has been oscillating downwards these past few days, which feels a bit suffocating and anxious. I am still trying to find some traces during each rebound and downturn, both for Ethereum and the altcoins. Let me share some insights I've recently felt.

1. Ethereum is currently rebounding and is likely to reach around 3600, then turn back down. This time, I estimate it will break 3400 and fall to around 3340-3290, where there is a relatively narrow support range. If it breaks this, we will be looking at 3100/3000/2900. — If the above support levels hold, it will be a reversal back upwards, reaching new highs!

2. If it breaks 2900, we will be looking directly at 2500, which I estimate will involve one to two months of consolidation.

3. Altcoins are currently reacting strongly, experiencing significant downward fluctuations, but a few oversold altcoins are rallying. This corresponds to two possible scenarios for Ethereum: the first one sees altcoins using the momentum to wash out weak hands, accompanied by a rapid rebound, where low-altitude altcoins may even reach new quarterly/annual highs; the second scenario would involve a crash, with many reaching new lows for the year, creating sharp new lows. During the process of Ethereum consolidating and repairing its chart parameters at lower levels, the altcoins may begin to rise step by step.

These two possibilities are what I am currently considering (I personally believe the situation may be more optimistic, with the former being more likely, but the latter poses a significant threat to the altcoin market, which must be taken into account). Regardless of which scenario unfolds, I still optimistically believe that the altcoin season is not just a fleeting moment but the beginning of a new chapter. We need to prepare ourselves to face the last moment of darkness with calmness and readiness to welcome the real sunny days ahead.

This is my personal opinion, for reference only.