Early morning, Ethereum came under pressure from the 2085 level and declined, with the lowest exploring near 2024, which aligns highly with our bearish outlook. Although the price has rebounded slightly to around 2050 currently, the overall rebound momentum is limited, and the bottom support still needs to be tested. The 2000 round number level has become a key psychological battleground between bulls and bears.

From a daily perspective, Ethereum has closed consecutive bearish candles with price trading below the MA5 moving average under pressure, and the bearish arrangement pattern remains intact. On the four-hour chart, while the price shows signs of stabilization after exploring the 2024 bottom, the rebound failed to touch the Bollinger Band midline. The MACD fast and slow lines have undergone a bearish divergence below the zero axis, with the bearish momentum bars showing no significant contraction, indicating that downward pressure has not been fully released. On the hourly level, the rebound encountered obvious selling pressure in the 2055-2065 zone, which coincides with the 0.382 Fibonacci retracement level from the previous downtrend segment, forming short-term resistance. Trading volume has not expanded effectively, and the rebound lacks sustained momentum.

Focus on whether the 2000 round number level holds or breaks. If it breaks below again, downside space will further open up, potentially extending to the 1950 level. Before Ethereum can firmly stand above 2060, we recommend maintaining a bearish rebound stance. In the short term, consider setting up short positions around the 2050-2060 zone, with the first support below at 2020. If broken, follow up to look at 2000 and 1950. #Gate13周年全球庆典 $ETH