Ethereum has currently formed a price channel in a small cycle, with a resistance level of 1580 above and a key support level of 1550 below. This is the second attempt today to break through 1580, and it is currently in a volatile upward trend. When the trend line is broken, it is an opportunity for long positions to exit and a chance for short positions to enter. Long positions should wait for the resistance level of 1580 to be broken before entering, with a stop loss at 1550.