As of June 24, 2026, Ethereum (ETH) is overall in a weak bearish short-dominant structure. After rallying to $1,779 last night, it plunged sharply on heavy volume to $1,633. Although it is currently weakly consolidating around $1,660, the rebound strength remains limited.

Core Market Signals

· Continuous capital outflow: The ETH/BTC exchange rate has fallen to 0.027, reaching a new low in nearly two years. Funds are clearly rotating toward Bitcoin for safety.
· On-chain risk: If it breaks below $1,648, about $674 million in long positions accumulated on mainstream exchanges are at risk of liquidation.
· Technical suppression: Price is being constrained by the 20-day moving average and the descending trendline, with bearish positioning on the daily chart.

Key Levels to Watch Today

· Resistance overhead: $1,680 (the first hurdle in the short term), $1,720–$1,766 (strong overhead selling pressure zone).
· Support below: $1,630–$1,650 (today’s low area), $1,600–$1,611 (the last line of defense for bulls).

Today’s Strategy Reference (primarily shorting from higher levels, following the trend)

Main Strategy (short on rallies): If the rebound faces clear pressure after reaching around $1,680, try a small short position. Place the stop-loss above $1,720, targeting $1,650–$1,630 in sequence.

Defensive Strategy (cautious long): Only if the price shows a clear volume-backed stabilization signal around $1,630, aggressive traders may take a small long position. Target around $1,675, and if it breaks through, cut losses promptly.

Safer Strategy (wait-and-see): If the price trades in a narrow range of $1,650–$1,680, it is recommended to stay out of the market and wait for the direction to become clear.

Risk Warning

1. Options expiration is approaching: A large amount of options expires on June 26, which is often accompanied by sharp volatility.
2. Macro uncertainty: US stock performance and Federal Reserve policy remain key external variables affecting market sentiment.

With bears currently in control, long entries on rebounds should be especially cautious. Keep position sizes small and set stop-losses strictly—controlling risk is the top priority. #感谢关注︱互动︱评论︱转发