Current price $1,579, in a low-volume weak consolidation and repair range after the decline, mid-term bearish trend intact and not reversed, fully correlated with BTC movement, ETH is a high-volatility weak asset, with the core characteristic of no volume on rebounds and increasing volume on declines.

First, Precise Levels (Current Price $1,579)

Support Levels (From Near to Strong)

1. Intraday short-term support: $1,550–$1,560
The current price is just above support, which is the recent dense trading zone; a retracement without breaking this level provides a basis for a short-term rebound; a fast break below will directly test the next level.

2. Stage life-line strong support: $1,500–$1,505
This is the double-bottom low of the current decline; if the daily line effectively closes below this, the bearish space fully opens, with downside targets at $1,450 → $1,385, the key annual bottom.

Resistance Levels (From Near to Strong)

1. First immediate selling pressure: $1,620–$1,660
The first hurdle above the current price, also the 4-hour Bollinger mid-line + short-term EMA moving average resistance; a low-volume surge will likely retreat; only a volume-supported close above $1,660 can reverse the short-term weak pattern.

2. Mid-term bull-bear divide: $1,690–$1,708 (20-day moving average)
Only a firm hold above this level can end the daily descending channel; otherwise, all rebounds are just pullback repairs within the bearish trend.

3. Strong trapped area resistance: $1,750–$1,800

Second, Current Technical Indicator Status

1. Daily level: All medium-to-long-term moving averages are bearishly arranged, with price fully under MA20/MA50; RSI around 32, in oversold territory, with only slowing downside momentum, no bullish reversal signal; MACD is stuck low below zero axis, red bars weak, rebound momentum severely lacking.

2. 4-hour level: Indicators repeatedly golden-cross and death-cross, volatility compressed entering a window for a turning point; bulls lack follow-through, small-level rebounds easily lead to a second death-cross decline, high leverage prone to being whipsawed.

3. ETH/BTC exchange rate: Continuously weakening, capital flows preferentially to Bitcoin, making it hard for Ethereum to have an independent trend.

Third, Capital and Market Logic

1. ETFs: Previously had prolonged redemption outflows; although outflows have stopped, there is no sustained large net inflow, institutional buying absent, lacking core driving force for an uptrend.

2. Derivatives: The selling pressure from the previous quarterly options settlement has eased, but the scale of long liquidations across the entire network far exceeds that of shorts; retail long positions remain crowded, easily triggering a cascade decline.

3. Market linkage: BTC is repeatedly grinding and consolidating around the $60k level, directly locking the upper limit of ETH's rebound; without BTC stabilizing and strengthening, ETH will find it difficult to have a unilateral rise.