【ETH 1-Hour Structure Analysis: Key Support Level Facing Test】

Everyone, please pay attention to this ETH 1-hour candlestick chart. The price is currently at a critical point where a direction decision is needed.
Technical Analysis:

The price has broken below the BOLL (20, 2) middle band at 2165 and continues to trade below the lower band at 2136, showing weakness. If the 1-hour candlestick closes below 2136, it will open up the possibility of testing the 2100 key level in the short term.
Based on pattern and momentum analysis, the MACD is likely in a death cross below the zero line, indicating that bearish momentum has not yet exhausted.
The core support zone is between 2100 and 2090, which is a previous area of heavy trading volume and also the last important line of defense for the bulls.
On-chain Data Verification:
According to monitoring data, large wallet addresses have shown a net outflow over the past 24 hours, indicating ongoing short-term selling pressure. Meanwhile, net inflow into exchanges has increased, suggesting some funds are seeking to exit or rotate.
Recent News Impact:
Uncertainty around macro interest rate hikes continues to suppress overall risk asset appetite, putting pressure on the crypto market. ETH’s ecosystem has recently lacked strong new narratives to attract fresh capital inflows.
My Core Viewpoint:
This is not the time for blind bottom-fishing. The technical weakness, on-chain fund outflows, and weak market sentiment are resonating, suggesting further downside momentum. However, the 2100-2090 zone has strong technical support and historical capital accumulation. First touch of this area may trigger a technical rebound. But any meaningful rebound must be accompanied by increased volume and a successful reclaim of the 2165 middle band; otherwise, it remains a continuation of the downtrend.
Strategy Recommendations:
For those holding short positions, set a trailing stop-loss and closely monitor the actual test of the 2100 level.
Potential bulls should remain patient, waiting for at least two clear signals: a prominent long lower shadow bottoming pattern on the 1-hour chart, and MACD showing bullish divergence, along with clear large fund inflows on-chain.
Market trends must be respected. Until ETH shows a clear volume-supported stabilization signal, risk management should be prioritized.