This morning, ETH's price movement formed a classic head and shoulders top pattern. After forming a double top around 3300, the price completed a 1:1 retracement from the head to the neckline near 3130. This level is very critical—3130 serves as both an effective support level and a role in support-resistance switching.

From a technical perspective, 3212 constitutes a minor resistance, while 3237 is the 618 retracement level of this rally. If entering a short position from above, the stop should be set at the previous high of 3307, with targets around 3167 and 3130; conversely, if going long on dips at lower levels, a stop at 3060 is recommended, with partial exits near 3200 and 3237, and holding the remaining position until around 3300 for a final exit.

The oscillations within this range actually offer many trading opportunities. The key is to clearly understand your risk tolerance and position management. Specific trading decisions should be based on your actual situation; here, I am only sharing some observations and analysis based on the market trend.