As of June 23rd, Ethereum is trading weakly around $1,730, with overall sentiment leaning bearish. Capital is clearly flowing into Bitcoin (ETH/BTC exchange rate has fallen to around 0.027), coupled with signs of large holders selling on-chain, making short-term rebounds quite resistant.

The current price is within a narrow range of $1,720–$1,760, with unclear bullish or bearish momentum. It is recommended to wait patiently for a clear direction.

📍 Key levels

· Strong resistance zone above: $1,760 - $1,800 (convergence of moving averages and Bollinger upper band). Only a volume breakout here can temporarily break the weakness.
· Core support below: $1,700 - $1,720. This is the last line of defense for bulls. If a volume breakdown occurs, the downside could open to $1,680 or even $1,620.

📊 Today's strategic thinking

· Main strategy (going short at high levels): If the price rebounds to around $1,750 - $1,760 and encounters obvious resistance, consider a light short position. Set stop-loss above $1,780, with the first target at $1,700, and the second at $1,680.
· Defensive strategy (trying to rebound): Only if the price shows clear signs of stabilization between $1,700 - $1,720, aggressive traders can try a small long position. Tight stop-loss below $1,680, with a target of $1,760, but currently the risk-reward for longs is not very favorable.
· Wait-and-see strategy: If the price remains within the narrow range of $1,720–$1,760 with sideways movement, it is advised to stay on the sidelines and wait for a clear trend before entering.

⚠️ Risk reminder

The entire market is at a critical crossroads, with Bollinger bands tightening, indicating a potential trend reversal at any time. Additionally, a large options expiration occurs on June 26, which could lead to significant volatility. Operate with caution: keep positions small, set proper stop-losses, and avoid chasing highs or panic selling. #感谢关注︱互动︱评论︱转发 #以太坊 #每日分享