Take a look at the weekly trend of Ethereum. Since the decline from the high of 5100, it has been oscillating around 3000. The middle band of the Bollinger Bands continues to be pressed downward, indicating that the downtrend has not truly reversed. The MACD death cross continues to ferment, and the bears still have some strength— but this momentum is gradually weakening, and it won't keep falling forever.

From a short-term trading perspective, my advice is not to rush into chasing. The 3100 to 3200 area is a clear resistance level. Any rebound should be viewed as a selling opportunity, and don't be greedy. Looking downward, 2800 to 2900 is the real support. As long as the weekly chart does not break below this, consider low-buying opportunities to catch rebounds.

Currently, it's a typical range-bound trading rhythm—resistance above, support below, oscillating within this framework. When the weekly chart can break back above the Bollinger middle band, it will be worth considering a bullish trend. Until then, patience is still required.