Ethereum ($ETH) Monthly Key Support Analysis | June 2024

——$2250-$2000 is an important support zone, potential for positioning on a pullback

1. Core Support Level Analysis

✅ Three Key Support Levels

Support Type Price Range Technical Significance EMA50 (Monthly) $2245 Long-term trend dynamic support, institutional cost reference MSS/BOS $2175 Dense area on order book, bullish defense level FVG (Fair Value Gap) $1990 Liquidity gap, short covering target

📌 Key Conclusion:

$2250-$2000 is a strong support range for ETH. If the price pulls back to this area, it may lead to: Institutional/whale accumulation (EMA50 support). High liquidity buying (MSS/BOS order accumulation). Short covering rebound (FVG recovery).

2. Potential Trend Scenarios

🔴 Scenario 1: Rebound after pulling back to support

Trigger Conditions: ETH drops to the $2250-$2000 range, accompanied by significant on-chain transfers or ETF fund inflow. Target rebound levels: Short-term: $2500 (previous high resistance). Mid-term: $3000 (psychological level). Action Strategy: Buy in batches: $2245 (EMA50), $2175 (MSS), $1990 (FVG) for diversified positioning. Stop-loss reference: below $1950 (support failure).

🔵 Scenario 2: Break below support zone and continue downward

Trigger Conditions: Macroeconomic negative factors (e.g., Fed hawkish stance) or BTC leading a sharp decline. Target downward levels: $1800 (2023 high point conversion support). $1600 (ultimate defense at 200-week moving average). Action Strategy: Wait and see: Look for stabilization signals in the $1800-$1600 range. Hedge protection: Holders of spot can buy PUT options.

3. On-chain Data for Validation

Long-term Holders (LTH) Positions: If ETH drops below $2000, observe whether LTH accelerates accumulation (on-chain chip distribution). Exchange Balances: If the exchange's ETH supply decreases during the downturn, it indicates accumulation is ongoing.

4. Action Recommendations

Strategy Price Range Action Risk Control Aggressive Buy on Dips $2245-$2175 Buy in batches Stop-loss below $2100 Conservative Wait for Orders Near $1990 Buy below $1950 Abandon and wait Break below $1950 No action Wait for $1800 signal

5. Summary

$2250-$2000 is a strong monthly support zone for ETH, suitable for mid to long-term investors. Short-term traders can focus on rebound opportunities at EMA50 ($2245) and FVG ($1990). If it breaks below $1950, be cautious of deeper corrections and pause bottom-fishing.