After Ethereum broke through the descending trend line at the daily level, it rose to around 1700 and faced resistance, leading to a pullback. In the short term, on the 15-minute chart, we can see two retests around 1550, which is a key support level. From a technical perspective, as long as it does not break below 1550 again, Ethereum's price is expected to rise again in the short term. Currently, in the short term, it has not broken below 1550, and short positions should wait for an opportunity to enter. Before Ethereum truly rises, it might drop to around 1500 or even 1470.

Short-term support level for Ethereum is 1550, with resistance around 1580.

Trading strategy: Enter long positions on a breakout above 1580 or a retest at 1560, with a stop loss at 1550.

For short positions, wait for a breakdown below 1550 or around 1580 to enter, with a stop loss of one to two points at the support levels of 1500 and 1470. Tonight, Powell will speak, and market fluctuations may be significant, so be mindful of the risks.