Last night, with the release of CPI data and the strong opening of US stocks, Ethereum entered a corrective phase. Compared to Bitcoin, Ethereum's volatility was particularly severe, with a one-sided rise of nearly 100 points, reaching a high of around 2880. It then began to stabilize and pull back, and the price is currently retreating again to around 2770. The short position we established last night was also successful, capturing nearly sixty to seventy points. The current price is around 2770.

After Ethereum surged to 2880 yesterday, it quickly fell back, forming a clear upper shadow, indicating strong selling pressure around 2900. The RSI and MACD on the 4-hour chart show signs of fatigue. If it cannot hold above 2820, the short-term trend remains bearish, with key support seen in the 2750-2700 range. The current price is oscillating around 2770; if it breaks below 2750 (support from the 4-hour MA60), it may accelerate down to the 2700-2720 area, even testing the previous dense trading area of 2650-2680. A rebound that does not break above 2820 with volume can be seen as a second short opportunity.

It is recommended to lightly short if it rebounds to 2800-2820, with a stop loss above 2860 and a target of 2750-2700; if it directly breaks below 2750, one can follow the trend. Caution is advised regarding the volatility of US stocks; if it unexpectedly stabilizes above 2880, one should stop loss and observe. Market sentiment is cautious, and blind chasing of long positions should be avoided.