Ethereum's price continues to oscillate around the 2780 level, failing to form effective support. From a technical perspective, bearish forces are tightening their grip, with prices repeatedly testing around 2850 at midnight but unable to establish a foothold. The upper pressure level of 2880 acts like a barrier, and without sufficient volume support, the probability of a breakthrough is low. From a market correlation perspective, Ethereum's movement is highly correlated with Bitcoin, which is also currently in a phase of consolidation, further limiting Ethereum's upside potential. The intraday strategy focuses on shorting on rebounds, with the opportunity to position short orders in the 2880-2840 range, targeting the lower level of 2740. If it stabilizes above 2880, a short-term long position can be captured.