Ethereum rebounded last night, regaining the 3000 level, but this more resembles a sentiment recovery after a decline rather than a genuine trend reversal.

From a technical perspective, the market remains trapped in a bearish pattern. This upward move is essentially a technical gap fill combined with a trap for late buyers; there are no signs of a true breakout at this point.

The key issue is the 3000 level—although it was touched again, it did not form a real support. High-position trapped chips are accumulating above, but trading volume cannot keep up, and the price lacks the confidence for a sustained upward move. Short-term indicators have improved somewhat, but before the main price levels are stabilized, these signals have limited significance.

As long as 3000 cannot shift from a resistance to a support level, a decline remains highly probable. The overall trading rhythm still follows a bearish logic.

Operationally, maintain the original plan—avoid chasing the rebound, and wait until the structure is clearer before looking for short opportunities. Based on current conditions, the 3020 to 3060 zone faces resistance, and it’s advisable to gradually establish short positions; below, focus on 2920, and if it breaks, look for a secondary opportunity at 2850.