Based on the technical analysis and on-chain data as of June 23, 2026, ETH shows a pattern of weak consolidation and resistance during rebounds, with bulls and bears fiercely contesting key levels.

📊 Market Background

· Key Range: Price is fluctuating above $1,700 but remains under strong resistance at $1,760-$1,800.
· Funding Sentiment: ETH/BTC exchange rate has fallen to around 0.027, indicating a clear bias toward Bitcoin; on-chain data shows large holders are inclined to sell.
· Leverage Risk: In the past 24 hours, the entire network experienced liquidations totaling $375 million. If it drops below $1,654, the cumulative liquidation of long positions on major centralized exchanges could reach $904 million, so downside risk should be watched carefully.

💡 Today's Trading Ideas

· Main Strategy (Long-Short): If a rebound reaches around $1,750-$1,760 and faces resistance, consider a light short position with a stop-loss set above $1,780-$1,805, targeting $1,700, and if broken, look at $1,680.
· Defensive Strategy (Anticipate Rebound): If clear signs of stabilization appear between $1,700-$1,720 (with volume confirming a halt in decline), aggressive traders can try a small long position targeting around $1,760, with a strict stop-loss below $1,680.
· Wait-and-See Strategy: If the price fluctuates narrowly between $1,720-$1,760, it is recommended to stay on the sidelines and wait for a clearer direction.

⚠️ Risk Control Core

The current market is a rebound correction rather than a trend reversal, with frequent shifts between bulls and bears. It is advised to keep individual trade positions within 10%, always set stop-losses, and avoid chasing rallies or panic selling. #感谢关注︱互动︱评论︱转发 #以太坊