#ETH At the current price of 2105, ETH is still tracking BTC closely. The ETH/BTC ratio has continued to decline recently, and ETH is clearly underperforming Bitcoin, making an independent rebound difficult. The first short-term resistance is around 2150–2170, a range where ETH has faced selling pressure several times recently. For ETH to strengthen, BTC needs to hold above 76000, and ETH needs to break above this range on higher volume before it has a chance to test around 2220. The first support below is 2080, a key level to defend for now. If ETH breaks down along with BTC, the next support is the 2000 level.

On the flow side, spot ETH ETFs continue to see outflows, on-chain ecosystem activity is subdued, and there is little fundamental support to cushion the downside. Buying is weak during rebounds, which are mostly passive moves following BTC’s short-lived rallies, with very little follow-through. Short-term trading is challenging, so it is not advisable to actively buy the dip. Focus first on BTC’s directional signals and consider following the trend only after BTC shows clear signs of stabilizing. Until then, it’s best to stay on the sidelines and manage leverage carefully.