Although Ethereum has rebounded from its bottom in the current trend, today's white session did not continue the rebound significantly. So far, the price has been fluctuating around 2400. On the hourly chart, the middle band of the Bollinger Bands is once again exerting some resistance. Although the price has temporarily broken above the 2400 level, if it cannot break through the hourly middle band resistance in the near term, there is a possibility of further decline tonight. Currently, the total liquidation amount across the entire network in the past 24 hours exceeds $1.7 billion. Technical indicators show that the market has entered an extremely oversold state, but downside risks still exist.