Ethereum (ETH) market overview

1. Key price levels
Resistance: 1980-2000 (core checkpoint; a breakout opens upside room), 2430 as a mid-term target
Support: 1754 (mid-term strong support), 1840 as a short-term pullback setup range

2. Market logic
In this round of rebound, ETH’s rise has significantly outperformed BTC. The ETH/BTC ratio is recovering. Open interest in futures has increased to nearly $20 billion, and short-term bearish pressure is clearly causing a squeeze. L2 ecosystems such as Base and Arbitrum remain active: L2 transaction fees and user counts are steadily growing, alongside upgrades that cut costs and improve efficiency. The long-term narrative provides a firm foundation.

3. Potential suppression
The rebound trading volume is gradually shrinking. Before it convincingly holds above the 2000 level with volume expansion, the rebound’s effectiveness is questionable. On-chain activity has not yet returned to prior highs overall, so the continuation of the trend depends on additional capital entering the market.

$ETH ‌#夏日创作营