On Sunday, there was a volatile rebound, going short to exit with a break-even.

Recently, Ethereum has formed a double top around 3880, leading to a strong decline in price, indicating that the current bearish forces are very strong.

After the price touched the bottom in the morning, there are initial signs of a stop in the decline, but the current rebound strength is still insufficient.

Therefore, closely monitor the important resistance levels in the 3480 to 3500 range tonight. If the price fails to return above this range, the bearish forces will continue to dominate. The main strategy remains to operate with high shorts along the Silk Road.

It is recommended to short in the 3480/3500 range, with a stop at 3515. Look down to 3400/3300.

(Even if this round stops the decline, there will still be another drop near 3300/3350 in the short term.)