ETH today fluctuated within the 2917-2957 range. Honestly, without the participation of major institutional players, this market simply cannot start. It has been stuck in a deadlock cycle of quantitative robots, and holding the entire position is almost breaking me down. It seems that only with a major player pushing the market can it move forward. Truly exhausting.

On the technical side, the Qian Kun line is at 2937, which is a critical life-and-death line. If the price stays above 2937, it’s bullish; if it breaks below, it’s bearish, with stop-loss set around this area. Specifically, if the price can hold above 2933 at 8 PM, then a bullish outlook can be considered for the next 1 to 4 hours, but after 12 o'clock, caution is needed to defend against downward risks.

The key level to watch is 2957, the Gate of Heaven. If the 15-minute chart can hold above 2957, it signals a one-sided upward trend. But if the price returns to around 2937 at a key level, even if it remains above 2957, be cautious of a quick pullback to 2957-2964, which could be the start of a decline. Consider placing short orders around this area, with a stop-loss controlled within 10-20 points.

Looking upward, if it successfully breaks through 2957, the resistance levels are sequentially at 2979, 2994, and around 3000-3008. If it can stabilize above 3000, then 3031 and 3061 become the next hurdles.

Looking downward, 2917 is the Gate of Hell. If it breaks below this, a downtrend will truly start. If the 15-minute chart is near 2937, watch out for a rebound pin at 2911. Around 2912, consider long positions with a 10-point stop-loss. If the 15-minute line really breaks below 2917, it will be a one-way downtrend. Support levels are at 2888, 2862, and 2811, with the final focus on the 2802-2772 zone.