June is truly a tough month: ETH falls below 1600, with the current market dominated by bears. Where is the next liquidation zone?

ETH lost the 1600 level yesterday, hitting a new low for the period. June has become a month of complete collapse—no market, including US stocks, gold, and cryptocurrencies, has been spared. At this point, only short positions are still afloat.

Macroeconomic bearish pressures suppress the market with no bottom in sight
Non-farm payrolls data far exceeded expectations, with market expectations for a December rate hike rising above 67%. The Nasdaq plunged 4.18%, and Nvidia dropped over 6%. The fear index stands at 12, pushing market sentiment into extreme fear, and capital continues to flee. In the past 24 hours, total liquidation reached $1.83B, with longs accounting for $1.46B—long positions are experiencing a comprehensive wipeout.

Technical analysis: Daily collapse, rebound is a good opportunity to sell
ETH daily chart: RSI has dropped to 3.31, indicating extreme oversold conditions in history. However, the MACD death cross shows bearish momentum is still being released, and the lower Bollinger Band at 1646 has been broken. This is not the bottom, only a continuation of the decline. Every attempt to rebound to the 1600 level faces heavy selling pressure—bears are fully in control of the rhythm.

Liquidation dynamics: Bulls' defense line broken

Long positions accumulated in the 1560-1580 range have all been liquidated. The next dense long accumulation zone is at 1500-1520. The 1600-1620 area is heavily guarded by bears. Rebounds now face resistance, which has become the norm.

Strategy reference: Follow the trend, focus on high-altitude shorts
Currently, try short positions lightly in the 1560-1590 range, targeting 1520-1530.

The June decline has only just begun. External markets continue to be under pressure, and crypto assets are far from bottoming out. Under the trend, short positions can first target the 1500 level. As for the next target after breaking below 1500, it will be revealed in subsequent updates—the main force’s hand is far below current expectations. #分享美股交易赢英伟达股票