$ETH ETH is in a weak rebound phase after a sharp decline from the 2,300 range down to 1,750. Currently, the price is fluctuating around 1,980 but lacks sufficient momentum to break out. Above is a strong supply zone of 2,200 — 2,340, where a plethora of sell orders are waiting, just a touch away from triggering a powerful sell-off.

If ETH cannot break through the upper resistance zone, there is a very high possibility it will continue to be pressured down and return to test the support zone of 1,850 — 1,780, or even deeper to sweep liquidity at the old bottom. The market still lacks strong catalysts for ETH to bounce back, so the current general trend leans towards a decline.

Remember, the silence of the market can sometimes be a harbinger of a fierce liquidation wave. Don't be complacent, and don't get swept up in small upward movements. Be patient and wait for clear signals, ready to act decisively!