Lately, I've been paying close attention to Ethereum's market movements, and I must say, the night-time manipulations by the big players have left me a bit helpless. The longer the sideways consolidation lasts, the more fierce the volatility seems to become—many people have probably experienced this routine.

That wave of price action last night came suddenly, with Ethereum jumping 200 points within two hours. Unfortunately, I was caught up with something and missed out on this significant rally. Looking back, I feel a bit regretful. However, for those who managed to hold on around the 3250 level, it’s a bit of a win to have caught that move.

Ethereum has now returned to the 3000 support level. From a technical perspective, every time it hits the bottom, there’s an impulse to rebound, and this pattern is basically etched into the chart. So I recommend paying attention to the rebound around 3150, which could be a good level for shorting.

Honestly, the Federal Reserve’s rate cut benefits have already been mostly priced in. Now, we should be more alert to negative news impacts. Market cycles are always like this—joy often turns into sorrow, and the tragic drama keeps playing out.