Gap remains unfilled, short-term downward pressure continues
From last night to this afternoon, Ethereum has gone through two downward waves, with a limited drop in the early morning and a significantly enhanced selling sentiment in the afternoon, approaching the 3500 region at its lowest.
Although short-term bulls are trying to defend, from a weekly perspective, the previously left structural gap has not been fully repaired, and this gap cannot be ignored by 'replacement with an upward move'; its position is deep, and technical pressure is real. Therefore, the current two dips have not completed substantial adjustments, and there is still a risk of continued downward movement.
Currently, there has been no uncontrolled drop, but the technical adjustment structure is still unfolding, and there is still space for short-term downward fluctuations, especially before a clear volume increase stopping signal appears.
Summary of operational thoughts
The current stage of the trend basically continues yesterday's forecast: ETH remains mainly in weak oscillation and technical downward adjustment;
Key support reference area: 3400–3264 range, where the supporting strength is relatively strong;
If the lower support is not effectively broken within this week, it is expected that the gap will be repaired before a new round of upward momentum is brewed;
If a stopping signal is confirmed in the future, it may form a 'repair → accumulation → increase in volume' second-phase upward rhythm.
Overall, short-term bears dominate, and the downward oscillation structure has not yet concluded. Bulls need to hold the key support area, waiting for a volume stabilization signal to enter further, and it is crucial to avoid blindly bottom-fishing or anticipating a rebound without confirmed signals. The short position layout still refers to 3750-3800, and it also needs to be strictly accompanied by a stop loss.
