Ethereum's early morning movement once again confirmed the market's fragility. After encountering resistance around 2088, the price quickly retreated and has now effectively broken below the 2050 level. This signals that the bulls' short-term attempt to push higher has failed, and the market has reverted to a bearish dominance.

From a technical perspective, the 2088 level is not only the high point of the previous trading congestion zone but also a psychological resistance level that the market has repeatedly failed to break through. The recent rally and subsequent pullback, especially after breaking below the 2050 support, forms a small false breakout pattern. In a weak market, this typically indicates a continuation of the decline, suggesting that major funds are not interested in accumulating at high levels and are instead using the rally to distribute positions. On the daily chart, if the price continues to stay below 2050, the MACD momentum bars show signs of weakening again, and the downside space may further open up.

Trading strategy should focus on shorting on rebounds. The first key support below is around 2015. If this level is broken, it will likely accelerate the decline toward the previous low near 1980. Until the price can effectively recover and stabilize above 2050, any rebounds in the market may just be bearish corrections, and blind bottom-fishing is not recommended. #Gate蓝龙虾重磅上线 $ETH