Considering Maji (Huang Licheng)'s liquidation risk, ETH is currently at a critical point in the "bull-bear showdown" as of April 2nd. The price continues to be under pressure, just one step away from his liquidation line.

📊 Real-time Price and Market Overview

As of today, bears dominate ETH, with the specific data as follows:

· Real-time Price: approximately $2,045 - $2,057. Due to geopolitical tensions and tariff fears, it has dropped about 4.7% in the past 24 hours.
· Market Sentiment: Extreme panic. Funding rates have fallen to the lowest since October last year, open interest has surged while prices decline, indicating a large influx of short positions.

🛡️ Key Support Level: Maji's "Lifeline"

The biggest focus now is the $2,030 - $2,040 range.

· First Defense Line ($2,030 - $2,040): This is the last barrier before Maji's $2,031.5 liquidation price. If broken, it will trigger forced sell-offs worth millions of dollars, creating massive sell pressure.
· **Psychological Barrier ($2,000)**: If the above defense fails, $2,000 will become the next major target. A break below could shatter bullish confidence and trigger broader panic selling.
· **Final Defense ($1,960)**: If $2,000 cannot be held, the price is likely to accelerate downward to $1,960 or lower, meaning Maji's position will be fully liquidated.

🚧 Recent Resistance Levels: The "Ceiling" of the Rebound

In such a weak market, the rebound path is fraught with difficulty, with each resistance level bearing heavy selling pressure.

· First Resistance ($2,076 - $2,080): The first hurdle for a short-term rebound. Currently, the price is suppressed below this level by the 15-minute SuperTrend. Only a breakout here could temporarily ease the downward momentum.
· Strong Resistance Zone ($2,168 - $2,200): If a fortunate rebound reaches this zone, it will face a significant test. This area marks the recent low point, with a large amount of trapped positions, making it difficult to surpass without substantial buying volume.

📉 Future Trend Analysis: Risks Still Unresolved

In the short term, the market is still dominated by bearish factors. Unless there is a major easing of geopolitical tensions, rebounds are likely opportunities for shorting. A noteworthy signal is: although prices are falling, on-chain activity remains high, and funds are continuously flowing out of exchanges (shifting to long-term holdings), laying the groundwork for a medium- to long-term (weekly chart level) bottom formation.

Operational Strategy Reminder:

· For short-term trading: Focus on shorting. As long as the price cannot recover above $2,080, be cautious about bottom fishing and avoid sudden spikes caused by Maji's liquidation risk.
· For long-term holding: Currently in a downward channel on the left side, it is advisable to wait for weekly chart stabilization signals and monitor support levels around $1,750 - $1,730.