$ETH $BTC Falling to 1605, will it keep dropping or not!💥💥

This morning I checked ETH today at $1,629, and the chart shows that most profit-making whales are almost all short positions, with a 24-hour decline of 0.99%. The highest in 24 hours was 1,667, and the lowest touched 1,604. Ethereum's movement over the past 24 hours has been weaker than BTC. From on-chain data, Ethereum's Gas fees are currently low, indicating low on-chain activity. Low Gas fees mean fewer transactions on the chain, and the network congestion is low. This somewhat reflects that market enthusiasm is cooling down. The ETH/BTC exchange rate is also continuously declining, indicating that funds prefer BTC over ETH. Data from Ethereum's Layer 2 networks is worth paying attention to. The daily active users on Arbitrum and Base are increasing, but this growth has not directly reflected in ETH's price. Historically, ETH around 1600 has been a recurring support or resistance level. Multiple times last year and this year, it found support or faced resistance at this level. If the current low of 1604 breaks downward, the next reference point is around 1550. (Nebula personal analysis for everyone’s reference)