According to the external analysis, the Etheraf had recently returned to a line of $1,800 after a low-level rebound, but there was still a clear outpour near the 2000 dollar. According to the article, current prices have entered a zone that is prone to greater volatility, and the way forward will depend on the effective break-through of the resistance position and the continuation of the support below.

$1900-2030 into short-line resistance.

It was mentioned that the ETH had previously recovered from the $1550 demand area, driving prices back to the top of the 20-day average and that the short-line structure had improved over the previous period. The purchase is currently trying to build support above $1,800, but $1900 to $2030 is still the most critical drag belt for the moment.

This area has been superimposed with a phase-level resistance and 100-day average, which has suppressed prices over the past few months. According to the article, the market could only further open up space if there was a clear stand at the solar line level of $2030.

If a break is made, the next target range may look between $2350 and $2400. On the contrary, if $1,800 were to be lost, the current rebound could be interrupted, at a price or around $1550 again.

Two hundred dollars above, about six billion dollars to settle.

In addition to spot movements, the leverage distribution of derivatives markets was seen as an important driver of fluctuations in the current round. Citing liquidation data, the article states that ETH currently has more than $10 billion in leverage positions above and below prices.

Of this amount, nearly $6 billion in open-ended liquidation was gathered near $2200, while around $1400 was around $4.13 billion. Because of the larger size of the empty liquidation above, if the ETH breakthroughs around US$ 2,000, the empty replenishment could further push up prices and form a chain of liquidation.

However, the article also states that the downside risk has not disappeared. If the $1800 support is broken and the sales pressure continues to increase, the market focus may quickly shift to a liquidity area near $1400, at which point the multiple-head positions will face greater pressure.

The market will focus on two critical points.

From this analysis, the most important observation point for the ETH short line is still $1800 support and $1900 to $2030 resistance band. The former relates to the continuation of the round, while the latter determines whether there is an opportunity for a closer price of $2,200.

According to the article, the current technical aspects, although showing signs of repair, have not yet been confirmed. The next clear breakthrough or fall of ETH may trigger a centralized liquidation on either side and magnify market fluctuations in a situation where both sides accumulate significant leverage positions.