Yesterday morning, Iran signaled a willingness to end the conflict "under guaranteed conditions," briefly warming risk appetite and leading to a noticeable short squeeze in the market; however, this morning Donald Trump's statement denying any withdrawal plan quickly reversed risk sentiment, putting pressure on risk assets. It can be seen that the current market is still in a tug-of-war in the face of sudden events. Structurally, the rebound of Ethereum since Monday has just touched the 50% retracement level of the previous downward wave, which is a typical "technical repair upper limit." Against the backdrop of renewed risk sentiment, the significance of this pressure point is further amplified, making the market more inclined to return to its original weak downward rhythm. Key support below focuses on the 2020 level. Once effectively broken, it is necessary to be wary of the risk of a retest of the short-term low, which also means that in the process of continuing the downward trend, rhythmic participation opportunities will gradually become apparent. $ETH #ETH