Ethereum's performance over the past 24 hours is concerning. Clear technical risk signals have already appeared on the 4-hour chart, with the price once again falling below the $3000 level, prompting many traders to consider: is this a normal market shakeout or the beginning of a genuine correction?

Last night, Ethereum experienced a day of sluggish volatility with no effective upward momentum. The underlying reason is straightforward—during the US stock market holiday, major institutional investors generally adopted a wait-and-see attitude, leading to a lack of major driving forces in the market. However, this morning, the situation has become even more severe.

From a technical perspective, Ethereum has entered a "recovery-type consolidation" phase. After yesterday's rapid decline, the market is searching for new support levels. On the news front, changing expectations of Federal Reserve rate cuts have exerted interest rate pressure on the entire market, resonating with the increasingly bearish technical structure. The combination of these forces suggests that Ethereum is likely to continue testing lower levels in the short term.

The key support level is at $2980. This is an important psychological threshold. If it breaks, negative market sentiment could be further intensified; if it holds, there is a possibility of initiating a consolidation and bottoming process within the $3100-$3260 range.

Regarding Bitcoin's medium-term trend, the rising expectations of Federal Reserve rate cuts currently provide some support to the market, prompting some Strategy investors to consider increasing their Bitcoin holdings. The price forecast for Bitcoin in 2026 will depend on ongoing macroeconomic developments and policy directions.

What is the most prudent strategy at the moment? Stay patient and observe calmly. Avoid blindly shorting or rushing to buy the dip. The market will always present opportunities; the key is to wait for a clear directional signal. Only when the market provides a definitive breakout or support confirmation is it truly time to act.