$ETH Crypto Circle Academician: How to position during the Ethereum (ETH) decline on June 24? Latest market analysis reference

Ethereum current price is 1660. Who among us has withstood this wave of decline? From 3400 crashing down to 1500, now that it has finally rebounded to 1660, it’s being pressed back down and rubbed. The daily K-line has broken below all short-term EMA moving averages, indicating a continuation of the bearish trend. From a technical perspective, EMA15 and EMA30 form a death cross downward, and the price continues to operate near the lower band of the Bollinger Bands, indicating heavy short-term selling pressure and the bulls are unable to mount a counterattack. MACD remains in a weak zone. Regarding Fibonacci support levels, the current price is close to the 100% retracement level at 1503, with strong resistance above at the 78.6% level at 2242. If it cannot break through EMA15, the bearish trend is likely to continue.

The four-hour K-line has again broken below EMA15 and EMA30, signaling the failure of the short-term rebound and re-entering a downward channel. The Bollinger Bands are widening again, with the price moving along the lower band, indicating renewed bearish momentum. The MACD indicator's DIF crosses below DEA to form a death cross, with the green bars starting to expand, showing clear short-term weakness. The 23.6% Fibonacci resistance level at 1730 is the current dividing line between bulls and bears; multiple tests have failed to break through, instead facing resistance and falling back. Support below looks toward the previous low at 1503; if it effectively breaks below, a new round of decline will begin.

Short-term reference: Safety first, remember that the market has no 100% certainty, so always set stop-losses. Safety first—small losses, big gains is the goal.

Below 1560 to 1530, do not break northward; stop-loss at 50 points, target 1630 to 1680.

Above 1680 to 1720, do not break southward; stop-loss at 50 points, target 1650 to 1600.

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