On the eve of this weekend, the market faces two major key event pressures—U.S. non-farm payroll data and tariff policy decisions are about to be announced. Institutional funds are showing clear signs of reducing positions, which is directly reflected in the market performance. The main index has already broken through the 5-day moving average support line and further lost the critical support level of 3170, currently in a phase of searching for support downward.

Focusing on ETH's performance, in the short term, attention should be paid to the trend support around 3100. From the 4-hour chart, if this level is effectively broken, the next defensive point will shift to the 3050 area near the middle of the daily Bollinger Bands. However, from a short-term perspective, there is also a possibility of a rebound—especially watch out for the time between 16:00 and 17:00 this afternoon to see if a spike pattern occurs, which is often an opportunity window for short-term traders.