Based on today's market information (June 25, 2026), ETH is in a low-level consolidation phase after a sharp decline, with the overall trend still weak. It is recommended to observe more and act less, using key levels as decision-making references.

I. Current Key Levels

· Core price range: Price fluctuates around $1600, with a 24-hour decline of approximately 4.17%.
· Support below: $1616 - $1603 (short-term last line of defense); if broken, the key defense is at $1547 - $1505.
· Resistance above: $1645 - $1660 (key level for short-term stabilization); only a breakout above $1680 with volume can raise the rebound level.

II. Two Possible Scenarios and Strategies

· Consolidation recovery (higher probability): Price holds $1616 - $1603 and fluctuates between $1603 and $1660. For those without positions, wait for a break below $1600 to try a small long position; **for those holding positions**, wait for a rebound near $1660 with insufficient volume to reduce positions.
· Further decline (risk path): If it breaks below $1505, it may open up downward space. Those with heavy positions must prioritize controlling drawdowns and not hold stubbornly.

III. Additional Signals to Watch

· Short liquidations: If ETH breaks above $1653, the cumulative short liquidation intensity on major exchanges could reach $485 million, potentially fueling a short-term rebound.
· Whale activity: A whale withdrew ETH worth $58.3 million from exchanges during the decline, indicating some funds are attempting to position.

Overall, the current situation is a "left-side trial" zone with high risk. A prudent approach is to wait for the price to stabilize above $1660 with volume before entering on the right side, which is much safer than guessing the bottom now.

The above analysis is based on public market data and does not constitute investment advice. Please set strict stop losses for your operations.