Ethereum's recent drop has been quite severe! The price is currently hovering around 3735, and a rebound to around 3880 could be a good shorting opportunity.

Looking at the data, multiple periods' RSI have entered the oversold zone, with the 4-hour RSI dropping to an extreme position of 16.93, indicating that bears are in complete control. However, be cautious, as such an oversold condition could lead to a rebound at any moment.

It is suggested to first attempt a light short near 3880, with the initial target set at 3770, followed by 3675, and finally aiming for 3400. Remember to take profits in batches and don't be too greedy.

Most importantly, the stop-loss must be set above 4020; if this level is broken, make sure to run. In case of an unexpected positive rebound, consider using 20-30% of your position to hedge, but remember this is just a temporary protective measure.

Currently, market sentiment has shifted to fear, and open interest is decreasing, which suggests that the downward momentum may not have fully released. However, it is important to control your position size and strictly adhere to discipline. The market is never short of opportunities; preserving your capital is the most important thing! The above is just personal analysis and does not constitute investment advice; everyone should manage their own risks! $ETH #巨鲸动向