【$ETH Signal】Hold a vacant position and observe—Rebound encounters resistance, structure is fragile

$ETH is experiencing a weak rebound after a sharp decline, with the price firmly suppressed below the EMA20 (1999), indicating a clear bearish trend structure.

Deep imbalance reaches 87.85%, but buy orders are concentrated below the current price, more like passive acceptance rather than active buying. The 4H level buy ratio remains below 0.52, showing that the upward movement lacks genuine demand.

Although the price has risen by 1.88%, the open interest remains stable, and the funding rate is slightly negative. This is not characteristic of short covering or main force inflow, but more like short covering or retail bottom-fishing triggering a technical rebound. RSI at 45.56 is in a weak zone, indicating insufficient rebound momentum.

Key resistance at EMA20 coincides with the psychological level of 2000, with heavy selling pressure above. There is no effective support structure below, with the previous low at 1907 being the only recent reference. The current price is in a vague zone of a downtrend continuation, lacking structural support for long positions, while short positions face the risk of a oversold rebound, making risk-reward ratio unpredictable.

🎯 Direction: Hold a vacant position

Prioritize risk control. Wait for the price to make a clear decision at key levels (such as 1900 support or 2050 resistance), and after OI, depth, and other data resonate, then look for high-probability trading opportunities.

Trade here 👇 $ETH

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