Today Ethereum $ETH continues to weaken, the previous low position of 2024 USD was ultimately not held, directly breaking below and creating a new low.

The most critical thing to watch next is the recently broken 2024 USD level: if the price can rise back and stabilize above 2024 USD, that would be a false breakdown, and there might be a rebound afterwards.

If it cannot recover and continues to operate below 2024, pay attention to the next support level of 1986 USD. If 1986 USD is also broken, the next possible support position would be 1927 USD.

Today is Friday, and market volatility is usually larger, so to see a rebound, it must rise back above 2024 USD to be effective; otherwise, the rebound strength will be very weak. Additionally, the 2000 USD round number has already been broken, and after breaking through the round number, the decline may further expand.

Trading suggestion: Near 2081 USD on the left side has already shorted, continue to add shorts on the right side after breaking 2032 USD, pay attention to the changes in trading volume, and definitely set stop losses. When you see this post, the position may have already been missed; if missed, do not chase, patiently wait for the next opportunity. Take responsibility for your own funds.

4-hour level analysis:

According to the Fibonacci retracement, the 1:1 target position of this decline is approximately around 1987 USD. If 1987 USD can be held, it may stop the decline here. If it cannot be held, it is very likely to continue to fall to around 1855 USD corresponding to 1.618 times. To confirm a stop in the 4-hour level, it must rise back above 2032 USD and stabilize; otherwise, the stop signal is not established yet. This is a simple analysis of ETH for tonight.

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