ETH Market Dynamics and Trend Projection
ETH price quickly dipped to the lower edge of the channel near $1780 (with a low of $1750), and some traders have taken profits on short positions at $1780.
The liquidity below this price level has been significantly consumed, becoming a key support for the market.
Currently, ETH is operating within a 4-hour channel, with key resistance levels at $1825 and $1860. Both contract and spot CVD data are declining simultaneously, indicating that during the downward process, long liquidations and short profit-taking coexist.
Two possible paths for the market going forward:
Resistance and decline:
If the price rebounds to the channel center at $1825 and encounters resistance, a failure to break through will extend the downtrend, or it may directly break below $1780, targeting $1675;
Consolidation and breakout:
Consolidating and accumulating in the $1780-$1800 range, if a breakout at $1850 is successful, it is expected to further attack $1945.
Recently, ETH has shown relatively strong performance, and future trends need to closely monitor ETF capital flows.
From a long-term perspective, $1380 may be the low point for the first half of the year, with a target price of $2100; short-term traders should closely monitor intraday volatility and adjust strategies flexibly.
