The market is already quite clear at this point—

though consolidation continues, the momentum in the direction is getting weaker.

Yesterday, ETH first spiked higher and then pulled back. It looked like a rebound, but in the end it still failed to hold its ground, and the overall move remains suppressed by the bearish structure.

The US-Iran headlines repeatedly affect sentiment, but the real price action ultimately comes down to how capital chooses to position itself.

From the chart, the downtrend since 1849 has not been broken. After rebounding to around 1638, it faced renewed pressure and rolled over again—showing that overhead resistance remains strong and that short-term long momentum lacks continuity.

The market is currently in a typical range-bound consolidation:

Above 1645 is the resistance zone, while around 1570 is the support zone.

Before there is an effective breakout, price action will more often than not keep pulling and tugging.

My approach is simple:

Don’t trade frequently within an uncertain range; just wait for opportunities at key levels.

If the short-term rebound gets close to the 1610-1617 area, I will focus on whether any weakening signals appear, and then consider whether to participate in short-side opportunities. If it directly weakens and breaks below the lower end of the range, then I will follow the market’s pace accordingly.

Trend trading doesn’t rely on guessing—it relies on waiting.

If, during the session, real execution opportunities that match the strategy appear, I will update my execution thinking accordingly in sync. Just stay attentive.