Afternoon Market Analysis: After a significant decline last night and this morning, the current market is experiencing a sideways consolidation. From a Fibonacci perspective, there is good support above the 0.5 level, and it faced resistance three times at the 0.236 level. Looking at the volume profile, 3192 is a very critical level with high trading volume, which is also an important reason for the support.

Summary: Ethereum is moving within a range, showing signs of a breakout. If it breaks above 3215, stabilizes, and shifts from bearish to bullish, it may be worth trying long positions. Conversely, if it breaks below this key level of 3192, it can be considered a continuation of the downtrend, and short positions can be attempted, targeting the previous low.