ETH yesterday (June 20) closed with a large bearish candle on the daily chart, with a single-day drop of up to 114 USDT, triggering panic in the market;

Currently, a significant 'downward channel' has formed on the 4-hour level, with a long lower shadow emerging near 2367 USDT, and bulls are beginning to attempt to build a bottom.

【Technical Indicators】

📉 MACD:

The daily level death cross continues to diverge;

The 4-hour chart shows signs of a bottom divergence (price hits a new low, but the histogram narrows), indicating preliminary conditions for a rebound.

📈 RSI:

The 4-hour RSI is 35.76, although it has exited the oversold zone, it remains in a relatively weak area, and the market has yet to fully restore confidence.

📊 EMA Moving Averages:

Current prices are still constrained by EMA7/30/120, with the 4H EMA30 (2515 USDT) being an important resistance in the next phase;

If this line cannot be effectively broken, the bearish trend will continue.

【Volume Analysis】

On June 20, the crash saw a volume spike to 630,000 ETH, clearly showing panic selling pressure;

Current rebound volume is shrinking (only 29,000 ETH), indicating that bulls are tentatively entering the market, but there is insufficient active buying;

Local support levels (such as June 21 at 04:00) have seen a trading volume of 72,000 when probing the bottom, but its validity still needs confirmation.

🎯 Trading Strategy Suggestions (for reference only)

✅ Short-term Long Suggestion:

Entry Range: 2400–2420 USDT

Target Price: 2480–2515 USDT

Stop Loss: below 2350 USDT

⛔ Short Opportunity in Case of Failed Rebound:

If it touches 2515–2530 and sees a volume increase with stagnation → Consider light short positions

Short Stop Loss: above 2538 USDT