Ethereum's current strategic layout (for reference only)

🩷 Macro and news sentiment (bearish)

🩷 Macro liquidity tightening
🩷 The Federal Reserve maintains high interest rates, leading to a collective weakening of global risk assets (U.S. stocks, cryptocurrencies).
🩷 Tensions in the Middle East drive funds into gold (gold prices hit new highs), and risk aversion suppresses ETH.

🩷 Institutional and derivatives pressure

🩷 Large BTC/ETH options are expiring this week (about $14 billion), with puts dominating.
🩷 U.S. tech stocks plummet, dragging down crypto markets.
🩷 Positive hedging
🩷 ETH burn volume and staking yields in March remain high, with no deterioration in fundamentals.
🩷 Clear regulatory framework from the U.S. SEC, long-term positive for institutional entry.

🩷 Technical analysis (bearish, weak oscillation)
🩷 $1,960 ~ $1,980 (current support, if broken then look at $1,900)
🩷 $1,900 (strong support, previous dense trading zone)
🩷 $1,800 (extreme downside target)
🩷 $2,030 ~ $2,050 (intraday first resistance)
🩷 $2,100 ~ $2,120 (mid-term bull-bear dividing line)
🩷 $2,200 (strong resistance, only a breakout can reverse the trend)

🩷 Daily chart: Bearish arrangement, price below all moving averages, trend weak.
🩷 4-hour chart: Oversold, slight rebound needed, but lack of volume makes sustained movement difficult.
🩷 RSI: Near 30, approaching oversold, but no clear bullish divergence.

🩷 On-chain and capital flow (bull-bear divergence)
🩷 Bears: Whales reducing positions above $2,300, causing recent rapid correction.
🩷 Bulls: About 870,000 ETH ($18 billion) transferred out of exchanges, with long-term buyers accumulating at low levels.

🩷 Conclusion: Short-term selling pressure weakens, but bullish confidence remains lacking, mainly consolidating to form a bottom.
🩷 Probable range: Weak oscillation between $1,960 and $2,080.

🩷 Trading suggestions (for reference only)
🩷 Short-term: Focus on buying, trade lightly, strictly stop-loss below $1,950.
🩷 Mid-term: Wait for volume breakout before considering trend opportunities.