#ETH Intraday Analysis

1️⃣ Structure Interpretation
Last night, Ethereum experienced a rapid decline followed by a V-shaped rebound. Although the current price has not yielded significant profits for us, the upward momentum is relatively active. Regarding the current intraday trend, my personal view leans towards continuing to watch for a rebound. We all understand one thing clearly: we are operating against the trend, so our position management should be cautious rather than heavily leveraged.

2️⃣ Capital Flow & On-Chain & Exchange Dynamics Observation
Similar to BTC, ETH has not shown clear unilateral capital inflow or outflow behavior in the past 24 hours; exchange balances and large transfers or other significant on-chain events have no publicly visible signals. Overall trading and trend judgment are still dominated by market sentiment and risk control capital participation. In summary, capital participation remains neutral to cautious, lacking obvious unilateral momentum.

3️⃣ Intraday Observation & Key Level Projection
Bullish Perspective
If ETH stabilizes in zone 1 with increased volume, consider small long positions after confirming the upward move; those with plans to add positions can refer to support zone 2. Place stop-loss at the breakdown of support zone 2; target the resistance zone 1 above.

Bearish Perspective
If ETH faces significant resistance near the 1-hour and 4-hour support/resistance levels, consider short positions; conservative traders may consider entering at resistance zone 1. The target is near support zone 1; place stop-loss at the breakdown of resistance zone 2.

4️⃣ Risk Warning
Based on today's capital and structural performance, the main risks for ETH today are:
1. Downward linkage risk: ETH is highly correlated with BTC, and ETH often reacts earlier when BTC is weak;
2. Insufficient volume support risk: Rebounds without significant volume support may quickly fail;
3. Macro disturbance impact risk: Global political and macroeconomic sentiment fluctuations may amplify short-term ETH volatility.