ETH Evening Trend: Support and Rebound Opportunities After Breaking Support

Currently, ETH is trading near $1,930, down 3.13% over the past 24 hours. It has experienced a deep correction within the consolidation range of 1923-1922 in 2022. From a technical perspective, Ethereum has repeatedly tested this consolidation zone, with quick and decisive breakdowns, while recovery has been difficult. It is now at a critical juncture between a breakdown and a rebound.

Breakdown Risks and Support Levels

After a false breakout above the upper boundary of the box, ETH ultimately failed to stabilize and faced renewed selling pressure. The highest point of the downward spike from above has become an important resistance—indicated by the yellow arrow—corresponding to the $1,930 level. The key dividing line is the $1,900 support; if ETH effectively breaks below $1,900, further downside risk emerges.

If weakness persists and breaks below $1,900, the next support level to watch is around $1,844—this was the low formed earlier today. If this support is also broken, there is room for further decline in the short term.

Rebound Targets After Breakdown

To reverse the current weakness, ETH needs to successfully break through the $1,930 resistance. Once stabilized above this level, a rebound can be expected. The upward target for the rebound could be set between $1,962 and $1,986. If momentum is strong enough, there is even a chance to challenge the upper boundary of the consolidation range near $2,022.

Trading Opportunities and Risk Management

From a trading perspective, there are two clear entry ideas:

1. Bullish Scenario: If ETH breaks above $1,927 with volume, consider going long to participate in the rebound, taking profits accordingly, while strictly setting a stop-loss at $1,900.

2. Bearish Scenario: If ETH drops below $1,900 with volume, consider shorting, aligning with the downward trend, and paying close attention to stop-loss risk control.

It’s important to note that the US stock market has not yet opened, and market liquidity is relatively low. Price fluctuations may not fully reflect true market sentiment. Investors are advised to wait for the US market open to find more confirmed entry opportunities rather than operating blindly in low liquidity conditions.

Multi-Timeframe Analysis

On the hourly chart, if ETH can hold above $1,930, focus on the rebound potential between $1,962 and $1,986. On the 4-hour chart, if the price breaks below $1,900, watch for downside space between $1,858 and $1,820.

The core indicator in this analysis is volume change. Before entering long or short positions, always set appropriate stop-loss orders to ensure risks remain manageable.