In the early morning, Ethereum came under pressure from the 2085 level and declined, with the lowest probe near 2024, which highly aligns with our bearish outlook. Although the price has rebounded slightly to around 2050 currently, the overall rebound momentum is limited, and the bottom support still awaits testing. The 2000 round level has become a key psychological battleground between bulls and bears.

From a daily perspective, Ethereum has posted consecutive bearish candles with price trading below the MA5 moving average under pressure, and the bearish alignment remains intact. On the 4-hour chart, after the price found some stabilization following the probe to 2024, the rebound failed to reach the Bollinger Band midline. The MACD fast and slow lines have formed a bearish divergence below the zero axis, with the bearish momentum histogram showing no significant contraction, indicating that downside pressure has not been fully released. On the hourly level, the rebound encountered obvious selling pressure in the 2055-2065 zone, which coincides with the 0.382 Fibonacci retracement level from the prior decline, forming short-term resistance. Trading volume has not expanded effectively, and the rebound lacks sustained momentum.

Key focus should be on the loss or hold of the 2000 round level support. If it breaks below again, downside space will open further, potentially extending to the 1950 level. Before the price can effectively hold above 2060, it is recommended to maintain a bearish rebound bias. On short-term rallies, consider shorting positions in the 2050-2060 zone, with initial downside support at 2020, and upon breakdown, track lower to target 2000 and 1950. #Gate13周年全球庆典 $ETH