6.24 ETH Analysis

The current price of 1713 has effectively broken through the BOLL upper band at 1675, forming a positive divergence statistically, but a breakout without volume is often unsustainable, and the price faces mean reversion pressure back to the midline at 1663. Meanwhile, the KDJ indicator's J value at 73 is approaching the overbought red line, and the price has repeatedly closed with long upper shadows around 1760, confirming the presence of dense sell orders pressing down, which is a clear signal of a supply zone test. More importantly, the trading volume of this rebound continues to shrink, indicating a typical volume-contracted rebound, and the bullish momentum is showing signs of exhaustion. The 1700 round number below has accumulated many long stop-loss orders, and once breached, it will trigger programmed selling, leading to accelerated decline after liquidity hunting, with the target directly aiming at the gap fill zone of 1652-1663.

Trading suggestion: 1700-1730 $BTC range, target 1650-1600.