ETH Market Analysis 2026.02.24 After ETH fell to 2623 on November 20, 2025, I tweeted a reminder that there will be a rebound in the future, but it will only be a rebound because ETH is already in a downward trend and will continue to decline after the rebound ends. (The black two periods shown in the picture represent the first period of decline and the rebound against it) The overall market trend of ETH since its operation on November 20, 2025.11.20 is in line with expectations. There are two possibilities for the decline of ETH since 4956. The first is that its overall structure is a simple three wave structure - decline+rebound+decline. The blue line under this route represents the complete decline of ETH, and the decline since 3447 is the last period of decline. After completion, ETH will end its downward trend and at least have a rebound at the same level as the blue line, which can last for a quarter. The second type is that the decline of ETH since 4956 is not a simple three wave structure, as shown by the red line in the figure. After reaching a temporary low point in mid to late March, ETH will only run a rebound against the red decline. After the rebound is over, ETH will continue to decline. Under this line, the overall downward trend of ETH may continue until the end of 2026 or even early 2027. Provincial version: ETH is currently in a downward trend starting from 3447 and there is a high probability that it will not bottom out at 1747. All gains before falling below 1747 are only rebounds, and ETH must fall below 1747 after the rebound is over in order to end this downward trend. The mid to late March is the possible time for the end point of the decline in this period, when ETH will have a rebound. The size of the level will be determined based on the market structure at that time, Over