Contract traders must pay attention: in a high-risk environment with 100x leverage, a long position at 3354 faces a forced liquidation risk around 3180, while a short position should be wary of the liquidation line at 3530. A fluctuation of just 2% within this range could lead to total loss, so do not go all-in betting on the $40 market movement.

The spot market opportunity is here. Once the price rapidly drops to the 3312-3300 range, consider building positions gradually to bottom out. During the rebound, if the price surges above 3400 but trading volume remains weak, you can appropriately sell some of the low-position chips you hold. After tonight’s US stock market opens, pay special attention—if the Nasdaq continues to weaken, Ethereum is likely to follow suit and dip back. The key support level is at 3342; whether this critical support can hold directly determines the short-term trend.