First, speaking objectively and without any emotions, there are bearish signs currently appearing for Ethereum. Firstly, in terms of the ETH/BTC exchange rate, a bearish signal has already appeared at the 30-minute level, and it is approaching the bearish signal area (0.03545) at the 2-hour level.
Looking at the various long and short signals for Ethereum itself, at the 30-minute level, Ethereum broke below 4200, signaling a bearish trend. Therefore, Ethereum has indeed entered a short-term bearish trend.
Ethereum needs to break through several key liquidity areas to solidify the bearish trend. Currently, it needs to break below the 2-hour level of 4100, but there is a high volume of liquidation needed around 4130. There may also be a large number of long positions entering near 4100, so whether it can break below 4100 is particularly critical.
Looking at the larger 8-hour level again, Ethereum needs to break below the 3900 level. If the 8-hour level breaks below 3900, the liquidity area below may be around 3700. If market makers are preparing to liquidate long positions, a break below 3700 could trigger a long liquidation cascade, making it very likely to fall below the last low of 3353.
The above viewpoint needs to be considered in conjunction with changes in market liquidity. There is no absolute certainty.