Ethereum is currently at a noteworthy position on the four-hour chart. The 3250 level is an area of support and resistance flip. From a technical perspective, a rebound is a normal retracement, with an expected bounce back to around 3330. However, the overall bearish trend remains unchanged, and downward pressure persists.

One detail to closely monitor is the bottom formation signal appearing on the one-hour chart, which may indicate a short-term rebound possibility.

The key point to watch is the daily close at 8:00 AM tomorrow. If the 200-period moving average remains stable above 3340, then a shift in strategy is needed, from bearish to bullish. However, based on current performance, the probability of a direct breakout above this level is not high.

Trading plan: set the take-profit at 3220 below, and exit all positions once reached. The extreme retracement zone is between 3155 and 3185. If the price retraces to the left side, consider establishing a long position, then gradually add to it, targeting around 3600.

The current strategy is clear—continue holding short positions without changes. Any new signals will be promptly communicated.