This round of decline has lasted 110 days, with a cumulative drop of over 60% from the highest point.
Market sentiment remains low, and from a technical perspective, the current key support area at the daily level of $1540-$1520 has been tested multiple times, showing some resilience in the short term.
The recent two rebounds have shown significant upper wicks (around 1680, 1620), indicating heavy selling pressure above and insufficient bullish momentum.
Short-term resistance is focused on the $1600-$1620 area; if it cannot break through, it may test support again.
The current market is still affected by macro sentiment [such as Federal Reserve policy, BTC ETF fund flows] and the ETH ecosystem itself [staking unlock, Layer 2 competition], and technical analysis needs to be combined with fundamental analysis for a comprehensive judgment.
If $1520 is breached, ETH may enter a "value reconstruction" phase, but a rebound after overselling could trigger at any time (especially after panic selling and short covering).
Has the current position reached the bottom??? Stay tuned to Bao Ge for first-hand information.
$BTC 88897355229
