$ETH Now around 1980, it has dropped 2.7% in the last 24 hours, repeatedly fluctuating between 1930 and 2040, overall weaker than BTC, just following the market trend.
Looking at the 4-hour level, there is a back-and-forth tug of war in the range of 1950-2050, with insufficient momentum, both bulls and bears lack strength.
Support below is first seen at 1980, stronger at 1950, with resistance above at 2030-2050, breaking through is not easy.
Recently, the on-chain situation is not stable, with frequent large liquidations, and someone lost 230 million near the high of 2200.
In February, Vitalik also sold a lot of ETH, with an average price of 2100, which somewhat suppresses sentiment.
In the past 24 hours, the entire network has liquidated 270 million, mostly long positions, playing with high leverage in a volatile market is quite dangerous.
In summary, ETH is currently in a weak consolidation phase, focus on the range of 1950-2050, and still need to watch the direction of the main market.