I just checked the latest data on CoinGlass, and at this moment (June 4th), ETH’s real-time price is $1778.79. It has dropped another 4.12% in 24 hours, and over the past 7 days, it has evaporated by 10.65%.

This kind of market makes even charting software want to be deleted. Don’t worry, let’s break this down into several layers to talk it through thoroughly.

1. On the surface, it’s “oversold,” but in reality, it’s “no one buying.”

The current market is very extreme.

After a big drop, there can be rebounds — the 15-minute RSI once hit 25, which is “extremely oversold,” so there are occasional small rebounds of about 0.8%. Looks like it’s stabilizing?

But don’t get excited — that’s just the bears taking profits temporarily, or a chain of liquidation in the futures market smashing the selling pressure. The core isn’t strong buying, but tired sellers taking a break.

This is like someone not fainting — it doesn’t mean they’re cured.

2. Funds are fleeing, and they’re doing so decisively.

This is the most chilling part.

You ask why the “digital oil” ETH from before now can’t even keep up with big brother BTC?

Look at the capital flow — the US ETH spot ETF has been net outflow for 15 consecutive trading days. In May alone, it lost $400 million, setting the third-largest monthly outflow in history.

And look at the exchange rate — the ETH/BTC rate has fallen to 0.0283, the lowest in nearly 10 months.

Institutions are retreating, big players are repositioning. Do you think retail investors’ enthusiasm can lift the market at this point? Difficult.

3. The bad news isn’t over, is there still room below?

The biggest risk isn’t the current price, but “everyone’s expectations.”

· Pattern is broken: look at the weekly chart — if the closing price in the next couple of days doesn’t stay above $1964, it’s a classic “inverted cup and handle” top pattern.
· Calculation: once confirmed to break down, technical analysts estimate a downside of about 21%. Looking further, many are eyeing that psychological barrier at $1500.

This creates a vicious cycle — the more the price drops, the more institutions redeem; the more they redeem, the more the price falls.

4. Where is the bottom line?

Though grim, we need a bottom-line mindset.

· Smart money on-chain isn’t leaving: despite the large exchange holdings, data shows whales have been quietly accumulating during this decline, with 1 million coins bought in May. This indicates “HODLers” think the current price isn’t expensive, only “traders” are cutting losses.
· Support levels: short-term support at $1750; if it doesn’t hold, look to $1701. If that’s broken, then support might be found in the $1630–$1500 range.

5. How to operate specifically? (All practical tips)

At this point, guessing the bottom on the left side and chasing the fall on the right side both hurt. My advice: be a “weathervane,” follow whoever wins.

1. Spot trading (for those with good patience)

· Strategy: dollar-cost averaging with grid trading, not all-in.
· Entry points: if you’re bullish on ETH long-term, place your first buy order around $1700, reserve funds for a second at $1550. Don’t act until it hits; once it does, buy and then close the app.
· Stop-loss: no fixed stop-loss. If you’re fully long ETH now, set a “mental stop”: if the closing price drops below $1450, it means the fundamentals have changed — accept the loss and exit.

2. Futures (for short-term traders)

Current volatility and high leverage are like giving away money.

· Long (bet on rebound): very cautious on the left side. Only try small positions in the $1720–$1750 zone.
· Stop-loss: $1700 (firm, can’t afford to lose more than 3 points).
· Take-profit: $1820 (don’t be greedy, it’s a bear market mindset).
· Position size: below 5%. Add more if right, exit immediately if wrong.
· Short (trend-following): relatively safer.
· Entry point: wait for a rebound to $1820–$1850; if it can’t go higher, go short decisively.
· Stop-loss: above $1880, admit mistake.
· Target: previous low at $1760, if broken, look at $1700.

The iron rule of position management: in this environment, don’t hold onto any position blindly. The lesson from yesterday’s $1.1 billion liquidation — high fees + high leverage leading to a brutal cascade — is much worse than you think.

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Finally, I want to ask everyone:

Is ETH now a “golden pit” or a “bottomless hole”? Are you choosing to buy the dip in stages at this level, or just run away first?

Feel free to share your thoughts in the comments. This market is too exhausting to bear alone — let’s stick together and support each other. #分享美股交易赢英伟达股票 $ETH

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