$ETH The Ethereum bounce is all a bull trap, the downward channel is already locked in, and support at 1585 won't hold for long. The broader direction remains bearish.

After the pullback from the 1614 high, the market has formed a standard descending channel, with bounce highs gradually lowering and bullish momentum weakening each time.

Now it's stuck in a sideways consolidation near 1585, which may seem like there's support, but it's actually just a resting stop during the decline. The longer it grinds here, the sharper the drop will be after the breakdown.

Upper resistance: first resistance at 1590-1595, strong resistance at the upper trend line of the 1600-1614 channel. As long as it can't reclaim the upper channel line, there is no possibility of any reversal of the bearish trend.

Lower threshold: 1585 is already at its last gasp. After an effective breakdown, it will head straight for the 1550 threshold, and further down the space will fully open, with the target directly at the 1520 support zone.#Solana生态ANSEM暴涨