ETH June 24 Midday Market Analysis

Last night's market signal was not a rebound, but the lack of sustainability after the rebound.
After testing the bottom around 1630, the price quickly pulled back above 1660, seeming strong, but a closer look reveals that the bulls have not been able to reclaim the key threshold of 1700.

After losing 1700, the market structure has changed.
The trapped positions above are waiting to be unwound, while bottom-fishing funds below are continuously trying to absorb, ultimately forming the current oscillating pattern.
For the main players, the best strategy now is not to directly push higher, but to repeatedly shake out traders between 1660-1700, harvesting both short-sellers and bottom-fishers.
Therefore, tonight's most important level remains 1700.
Until 1700 is firmly held, all rebounds can only be considered as repairs.

🔴 Main plan (priority execution)
Short at 1685-1705 zone under pressure
🎯 Target 1650
🎯 Target 1630
🎯 Break below 1630 to see 1600

🟢 Secondary plan (backup)
If a strong breakout above 1700 occurs with volume and stabilizes
Pull back to around 1700 to go long
🎯 Target 1725
🎯 Target 1750
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