Looking at this wave of ETH market, the moment the previous high was broken, the short-term trend actually reversed. The subsequent sideways consolidation for a few days basically confirmed this. Now it’s just doing the work of a sideways correction. This 12-hour plunge has wiped out the stop-loss orders of retail investors below—retail investors tend to short on dips, which is standard practice. Will it continue to push down to the 2886 stop-loss level? The probability seems low. The more likely scenario is that ETH will undergo a wave of adjustment on the daily chart, with the bottom expected to find support around 3600.