ETH 6.23 Evening Market Analysis

The sharp decline has quickly shifted market sentiment to bearish, but from the current chart, the market has entered a critical decision zone.
On the 4-hour chart, the 1700 level has been broken, and the 1760 high confirms resistance; the overall structure remains weak. Until it reclaims above 1700, I prefer to define the current movement as a rebound within a downtrend.
Therefore, the focus will be on the 1680-1700 range moving forward.
This is both the previous support level that was broken and the short-term bull-bear dividing line.

🔴 Main plan (priority execution)
Rebound in the 1680-1700 zone, sell on resistance
Target 1650
Target 1630
If broken below 1630, continue to watch 1600
The current trend still favors the bearish side; shorting on rebounds has a higher success rate.

🟢 Secondary plan (backup)
If ETH strongly breaks through 1700 and holds steady
Follow the trend and go long
Target 1725
Target 1750
But until 1700 is effectively reclaimed, long positions are only considered short-term rebound trades.
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