Ethereum experienced a typical "first decline, then rise" pattern after the US stock market opened last night. The price found support around 2886, then rebounded to 2963, and is currently fluctuating within a wide range near 2945.

From a technical perspective, the current bullish momentum is clearly insufficient, and the upward movement is weak. Additionally, with the US stock market closed tonight and lacking external catalysts, the overall market remains in a weak state. It is expected that the intraday trend will continue to consolidate within a range—neither showing a clear breakout direction nor a deadly downside risk.

Recently, there has been a lot of talk about a "Christmas crash" in the market, but such emotional forecasts often serve as contrarian indicators. The real market movements are usually much more complex than expected.

From a trading standpoint, the short-term strategy remains focused on shorting at high levels. The 2960-2980 range is an ideal zone for short positions, with a stop-loss set at 3010 and a target of 2900. This logic was validated in yesterday morning’s operations.

The recent market trend has indeed been quite frustrating, testing investors' patience back and forth. In such an environment, it might be worthwhile to shift focus to smaller coins that are showing independent strong trends, as they may present some trading opportunities.

Finally, I wish all investors a Merry Christmas. Stay rational and don’t be swayed by short-term emotions.