1. Current Market

ETH is currently quoted at approximately $1,618-$1,628, up about 3.7% in 24 hours, with trading volume surging 97%. It was consolidating in the $1,550-$1,600 range for the previous 4 days, and has just broken through the upper edge in the short term.

RSI 6 has surged to 78, indicating overbought in the short term. The medium term remains in a bearish arrangement, far below the 50-day ($1,833) and 200-day ($2,290) moving averages.

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2. Key Levels

Direction Price
Upper Resistance: $1,640-1,660 (Near-term pressure)
Strong Resistance: $1,700-1,750 (Rebound target zone)
Lower Support: $1,550-1,580 (Near-term support)
Strong Support: $1,500 (Psychological level, monthly key level)

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3. Trading Ideas

Short as primary (with the trend):

· Entry: Rebound to $1,640-1,660 area and show resistance, go short with light position
· Stop Loss: Above $1,700
· Target: First look at $1,550-1,580**, then look at **$1,500 if broken

Long as secondary (short-term speculation):

· Entry: Retrace to $1,550-1,580 without breaking, go long with light position
· Stop Loss: Below $1,510
· Target: $1,640-1,660

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4. Risk Warnings

· Spot ETF has seen net outflows for 7 consecutive weeks (last week outflow of $273 million), selling pressure above cannot be ignored
· Geopolitics (US-Iran situation) and Thursday's non-farm payroll data are short-term variables
· Monthly closing today; whether $1,500 holds will determine the July trend

⚠️ The above is for reference only and does not constitute investment advice. Please assess risks yourself.