From a broader perspective on ETH, it is still observing a bearish triangle confirmation pattern. For this pattern to reverse, the weekly price must break through the lower boundary of the triangle (currently around 2600), and the price must also stabilize above the weekly EMA50 (currently at 2555). If it fails to maintain support at the lower boundary of the symmetrical triangle, the price may drop below 2000. Conversely, if it stabilizes, ETH will challenge the previous high of 2880 USD again and may test the upper boundary of the converging triangle. After the rebound in the past two days, the weekly Stoch RSI is still in the overbought area and dead cross range, which may trigger a recovery of bearish momentum at any time.

In the short term, ETH closed down yesterday, and today it has bounced back, forming a cyclical pattern. Pay attention to the possibility of a bullish close today. In the 120-minute timeframe, there is undoubtedly a lot of volatility, and the continuation of large ups and downs is poor, so it should be viewed as a range. The upper resistance level is at 2580, while the lower support level is at 2440; therefore, the strategy is to sell high and buy low.

In terms of operations, it is recommended to buy near 2440~2445, aiming for a target of 80~100 USD. For the upper level around 2580~2585, a successful short here could potentially become a short-term medium-line entry point, using above 2600 as a defense point. Stabilizing above the EMA50 and the lower boundary of the triangle should be arranged separately. The medium to long-term trend evolves from the short-term; once the short-term is successful, it can form a medium to long-term position by moving stop-losses to take profit rather than holding out without a stop-loss waiting for a medium to long-term position.