Currently, Ethereum still holds a spot position near 3080, and the recent market trend is likely to show a correction pattern. The key points to observe next are the structural form of the correction and the retracement magnitude, which will determine the subsequent development direction.

From a technical perspective, there are two possible evolution paths. If the correction pattern deteriorates and the rebound strength is limited, it may only be a short-term rebound that ends quickly. In this case, consider clearing the spot and taking a short position when the opportunity arises (temporarily called the weak trend route).

Another scenario is that there is still a rally after the correction. In this case, close attention should be paid to the Gann time node around 1.23. If this route unfolds, the high point usually won't be far from the time window (strong trend route). Regardless of which path is valid, there is a consensus: the large daily rebound that started from 2623 is nearing its end. After identifying the peak, the market is very likely to restart a downtrend, with the next major support level around early March.

The divergence point between the two routes lies in whether there is still incremental upside, but both share the expectation that the rebound will end → continue to decline.