ETH continuously falls below the $2,000 threshold, with technical indicators showing a bearish alignment, and the short-term downtrend is essentially established. The MACD is in a death cross, and momentum continues to weaken. Multiple indicators show ETH entering a severely oversold area, suggesting a technical rebound may occur in the short term, but downward pressure remains significant. From public sentiment, the market is currently extremely panicked, with institutions and large holders experiencing unrealized losses or liquidations. The rebound is more likely a correction driven by emotional fluctuations rather than a trend reversal. It is advisable to wait for the market to stabilize or for key support levels to hold before considering large-position trading.