$ETH

After two weeks of phased bottoming, the weekly line closed with a large bullish candle of 13%. In the short term, Ethereum has formed a bottom defense line at the 1580 level.

On the daily level, it is currently in a relatively high position adjustment phase, facing pressure from the previous local high points of 1830-1850. Recently, it has repeatedly surged and then retreated, digesting the pressure from trapped positions.

If the volume increases, it could break above 1850.

On the 4-hour line, there have been multiple pin bars near 1850 followed by bearish closes, with a morning dip to 1750 resulting in a rebound.

This aligns with the current weak performance of Ethereum, indicating that there is significant selling pressure in the dense trading area around 1830-1850.

In terms of operations, key resistance to focus on is near 1810, and key support to watch is at 1750.