Ethereum rebounds 23% but still faces downside risk
Ethereum recently reached its predicted decline target, close to $1,800, and then rebounded by 23% driven by short-term traders. According to NS3, technical indicators, weak trading volume, and continued selling by long-term holders suggest that the current rebound lacks strength. The key resistance level must be maintained to avoid a sharp drop that could potentially fall to $1,000, indicating that significant downside risk still exists.#ETH $ETH