ETH current price is $2,059, with an intraday low of $1,756, and a maximum drawdown of over 48%. The daily RSI is 30.15, indicating severe oversold conditions. The lower Bollinger Band at $1,829 provides support, suggesting a potential short-term technical rebound. However, the price remains in a downtrend, with the 20-day moving average at $2,635 serving as a key resistance. Derivatives positions amount to $50.4 billion, with clear bearish pressure. It is recommended to take a light position to play the rebound, watch the $2,200-$2,400 resistance zone, and be cautious of further decline if the price breaks below $1,750.