As of June 24, 2026, Ethereum is in a clear bearish weak pattern, with the price consolidating weakly around $1,660, performing far weaker than Bitcoin.

The current core trading strategy is recommended to focus on high-level short protection and trend-following, while closely monitoring several key signals:

📉 Bearish logic and risks

· Exchange rate plunge: ETH/BTC exchange rate drops to 0.027, hitting a nearly two-year low, with funds continuously flowing into Bitcoin for safe-haven.
· Technical suppression: Daily chart is constrained by the 20-day moving average and descending trendline, with very weak rebound strength.
· Market negative news: Ethereum Foundation layoffs of 20%, causing short-term concerns about ecosystem efficiency; $170 million leveraged longs liquidated.
· Macro pressure: US dollar index at a 13-month high, putting overall pressure on risk assets.

📍 Today’s key price levels

· Resistance above (shorting reference zone): First resistance at $1,680 (short-term critical level), strong selling pressure zone at $1,720 - $1,766.
· Support below (bullish defense line): Today’s low zone at $1,630 - $1,650, ultimate defense at $1,600 - $1,611 (risk increases significantly if broken).

💡 Specific strategy reference

1. Main strategy (short on rallies): If the price rebounds to around $1,680 with obvious resistance, try a light short position, with a stop-loss above $1,720, targeting $1,650 - $1,630.
2. Defensive strategy (cautious short-term long): Only if the price shows clear volume-based stabilization signals around $1,630, aggressive traders may lightly go long, targeting near $1,675, with strict stop-loss.
3. Conservative strategy (wait and see): If the price trades within a narrow range of $1,650 - $1,670, it is recommended to wait and observe, and act once the trend is clearer.

⚠️ Special risk reminder

· Options settlement: Large options expirations on June 26, often accompanied by intense volatility.
· Linkage risk: ETH is highly dependent on Bitcoin in the short term; if BTC is unstable, ETH may be dragged down.
· Position management: Be sure to trade lightly and strictly set stop-losses; in the current weak pattern, contrarian bottom-fishing carries very high risk.

The above analysis is based on current market data; please control risk carefully when operating.