Ethereum is showing a relatively volatile situation on the daily chart. At the beginning of the year, it first rose and formed a double top pattern, then began a downward trend from the high and has since been in a low-level box range for a long time. After that, although the bulls launched a counterattack, they again formed a double top and moved lower.

The key now lies in the support situation below. The support in the 3100 and 3000 areas is quite important. If both of these positions cannot hold, then attention should be focused on the support strength in the 2820 and 2720 areas.

From an operational perspective, for investors looking to bottom fish, it is advisable to watch and wait for now. Wait for the 3000 level to be tested by the market, and if it holds and shows a rebound, then consider entering a long position. However, if investors are less concerned about the risk of being trapped and can manage their positions reasonably, then there is no need to be overly entangled with the timing, as Ethereum still has potential for long-term growth. A price rebound is just a matter of time; the only concern is entering too early and having funds tied up for a long time if the price does not rise.