$ETH ETH/USDT June 29 1-Hour Level Trend Analysis Report

1. Overall Trend: Weak Rebound and Resistance Under Bearish Dominance

Ethereum (ETH) experienced a clear one-sided decline (from around 1780 to around 1510), followed by a low-level consolidation and recovery phase. The current candlestick pattern shows that although bulls are attempting to organize a counterattack, the selling pressure above is heavy. After touching key resistance levels, the price began to pull back. Overall, it remains under the control of the bearish trend, belonging to a complex stage of "continuation of decline" or "bottom grinding."

2. Key Levels

Short-term resistance zone (1594 - 1607): This is the most immediate test. Currently, the candlestick has fallen back into or even below this zone. This indicates strong short-term profit-taking and breakout-selling pressure at the 1600 round number and above.

Strong resistance area (1632 - 1663): This is the previous dense trading platform and the confirmation point for a pullback after a breakdown. As long as the price remains below this area, the larger bearish trend remains unchanged. This is the "ceiling" for bulls and is difficult to break through directly in the short term.

Core support zone (1530 - 1561): This is the last line of defense for bulls and also the previous low area. The price has repeatedly found support and rebounded when touching the 1520-1530 area, indicating strong buying interest here. If the price falls back to this zone again without breaking, it may form a "double bottom" or box bottom structure.

3. Short-term Scenario Projections

Scenario 1 (Resistance and Pullback - Higher Probability): If it fails to hold the 1600 level, it will retest the validity of the blue support zone (around 1560).

Scenario 2 (Breakdown and Decline): If bearish strength increases, and a solid bearish candle directly breaks below the previous low of 1530.88, it means the rebound is over. The market will start a new round of decline, opening up downside space, possibly testing the psychological level of 1500.

Scenario 3 (Strong Breakout): To reverse the weakness, the price must reclaim and stabilize above 1607, then challenge the strong resistance above 1632. Only by breaking through this area can a reversal signal be confirmed.

4. Trading Strategy Suggestions

The market is currently in a typical range-bound zone with "ceiling above and floor below," but the bias is slightly bearish.

Buy low, sell high strategy (range trading):

Short opportunity: Watch for price reaction around 1610. If signs of stagnation appear, it is an opportunity to try shorting with a stop loss above 1620 and a target around 1560.

Long opportunity: Wait for the price to pull back to the 1545-1560 area, then attempt a short-term long position with a stop loss below 1525 and a target of 1580-1600.

Disclaimer: The above analysis is based on the current trend pattern. Markets change rapidly. Please make comprehensive judgments based on real-time market conditions and fundamental news.

Pay attention to the sudden impact of external factors such as macroeconomic data and policy news on market sentiment.

Strictly set stop losses and control position risk. The above analysis is for reference only and does not constitute investment advice.