💥Last night$ETH this wave of pullback, many people started to panic again, right? But has the market really turned bearish? Don’t rush to draw conclusions! Let’s analyze it together!

After a dip last night, ETH entered a consolidation phase. In the short term, the $1760 support level still holds. Last night, it briefly touched 1762 before quickly bouncing back, indicating that buying interest below is still present. The market has not shifted into a one-sided decline structure, and the bears are temporarily still unable to take control!

However, the key focus today is only one point: can the $1800 level hold firmly!!

If the $1800 level can be effectively maintained, this wave of pullback is likely over. The first target for the rebound is around 1845. If it continues to break upward with volume, there’s a chance to challenge 1885 or even higher. If throughout the day it remains pressured at $1800, it indicates the rebound strength is insufficient. After repeated setbacks at high levels, there’s still a risk of testing lower. The support line below remains unchanged: keep a close eye on $1760. As long as it holds, the consolidation and rebound pattern remains. Once $1760 is broken, the downward space may gradually open up.