Reviewing the overnight low-position layout idea, the market indeed completed a rebound near the 3148 level, followed by a correction.

From the current market situation, the bearish pattern is already quite clear. After Ethereum's price broke below the middle band of the Bollinger Bands, it has been oscillating between the middle and lower bands. Although it is close to the lower support level, the rebound strength is obviously weak. The Bollinger Bands are still widening downward, indicating that the downward momentum is still in the accumulation stage.

Indicators reveal even more clues—MACD has formed a clear death cross, with both DIF and DEA extending downward. The histogram is expanding in the negative zone, indicating that the bearish momentum is still in the release cycle, with no signs of exhaustion yet.

Based on this judgment, it is advisable to enter short positions in batches during the rebound to the 3150-3200 range, with the lower target around 3050-2900. Of course, specific operations should be flexibly adjusted according to real-time market conditions.