6.2 Tuesday ETH Morning Thoughts

Today, Ethereum experienced a deep correlation with BTC's sharp decline, continuing its weak downward trend, currently trading in the $1980-$1990 range, with the $2000 level completely broken, reinforcing the bearish trend.

The 4-hour moving averages are in a bearish alignment, Bollinger Bands are opening downward and accelerating divergence, MACD bearish momentum continues to grow, RSI has fallen into oversold territory; previous support levels have been directly broken, buying momentum has completely severed, minor rebounds are all trap trades, with no effective counterattack strength.
Above $1995-$2010 has shifted from support to strong resistance, while short-term support below has been broken, further dropping towards the $1900 level.

Dragged down by BTC's plunge, Ethereum ETF continues to see large outflows, and chain-long liquidations have impacted the market, panic sentiment has intensified, the trend is weaker than Bitcoin, short-term moving downward, do not blindly buy the dip, focus on shorting rebounds.
Operational suggestion: rebound to $2010-$2020 for shorting, target $1980-$1950. $BTC