June 18 Thursday ETH Afternoon Outlook

In the early morning, the Federal Reserve kept interest rates unchanged, but the overall tone of the press conference was hawkish, lowering expectations for rate cuts this year. U.S. Treasury yields continued to rise, and risk assets collectively came under pressure. Ethereum's daily movement was highly correlated with Bitcoin, with larger volatility than BTC, showing more obvious weakness.
On the capital side, Ethereum spot ETF funds continued to flow out, institutional holdings kept reducing, and there was no large on-chain buy-in entering the market. The slight rebound in the afternoon was only a technical correction after being oversold, lacking the capital support to reverse the downward trend.
Technically, the daily chart was under pressure from all medium- and long-term moving averages throughout, with a complete bearish structure; the four-hour rebound saw shrinking volume, with weak bullish momentum, and short-term moving averages continued to press down on the price.
In the afternoon, the first resistance zone above is 1810-1830, which is the confluence of moving averages at the dip point in the early morning. A rebound to this level will likely see selling pressure release.
Below, short-term support is at 1730-1750, with a key defensive level at 1700. If the price breaks below the body, it will open a new downward space, with a target near 1650.
Overall, the afternoon market maintained a weak oscillation pattern of rising and falling, with severely insufficient bullish momentum. It is not suitable to blindly buy at low levels. If the rebound hits resistance and stalls, it’s better to consider a pullback. Operate with light positions throughout and avoid the risk of double-sided whipsaws.
Trading suggestion: Watch for a rebound at 1770-1790, with a target of 1730. If broken, look for 1700; if not broken, consider $BTC a reversal.