6.23 ETH Midday Market Analysis

Currently, ETH is quoted at 1719. From a structural perspective, the 1700 level has been repeatedly contested, serving as both a defensive position for short-term funds and a dividing line for market sentiment.
The biggest characteristic in the past two days is not that it can't go down, but that it can't go up.
Every time it rebounds to the 1735-1750 range, there is obvious selling pressure, indicating that trapped positions and short-term profit-taking are exiting. Meanwhile, there is continuous support around 1700, causing the market to remain in a state of oscillation and tug-of-war.

This kind of movement often indicates that the market is waiting for a new direction.
If 1700 continues to hold, after repeated unsuccessful attempts by the bears to push down, it could easily trigger short covering, pushing the price to test the 1750 or even 1780 levels again.
But if 1700 is broken, panic selling in the short term will be unleashed, and the 1680-1650 range below will become the new battleground for funds.

Trading Strategy
🟢 Bullish Plan
Buy near 1700-1710
Target 1740
Target 1760
Strong breakout above 1760, continue to watch 1780+

🔴 Bearish Plan
Break below 1700, then rebound without breaking
Attempt short around 1705-1715
Target 1680
Target 1650

One-sentence summary:
ETH is not lacking opportunities now; it is brewing opportunities. Those who can endure the oscillation will be the ones qualified to catch the next trend.
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