Wednesday, June 10th ETH Afternoon Strategy

Today, Ethereum continues its overall weak downward trend, with the market still firmly controlled by bearish forces in the afternoon. After a sharp decline, the price has entered a low-range narrow fluctuation, and bullish reversal attempts are extremely weak. The morning session continued the previous day's decline, dropping to around the 1630 USD range, with a 24-hour decline of nearly 4%, accompanied by a concentrated liquidation of leveraged contracts across the entire market, further intensifying selling pressure.
From key price levels, the short-term support in the afternoon is locked at the 1610-1600 USD range, which is the last defensive point for the bulls. If this level is broken with increased volume, the market will open downward space, with the next target looking at the previous low area of 1540-1505 USD; short-term resistance is concentrated at 1665-1680 USD. Only by steadily breaking above this range can the short-term downward momentum be eased, further testing the strong resistance at 1720 USD.
Trading suggestion: Look for a rebound around 1620, $BTC targeting 1660.