經過數週的銷售壓力，以太坊顯示出生命的跡象。

儘管勢頭更新，但ETH仍以低於2,000美元的關鍵交易，這一水平必須被違反，以確認市場結構的有意義的轉變，並為持續的恢復奠定了基礎。

After weeks of heavy selling pressure and persistent negative sentiment, Ethereum (ETH) is finally showing signs of life. Bulls are stepping back in, attempting to reclaim critical price levels and reverse the bearish trend that has defined recent months.

經過數週的銷售壓力和持續的負面情緒，以太坊（ETH）終於顯示出生命的跡象。公牛正在介入，試圖收回關鍵的價格水平，並扭轉了最近幾個月定義的看跌趨勢。

However, despite the renewed momentum, ETH still trades below the key $2,000 mark, a level that must be breached to confirm a meaningful shift in market structure and set the stage for a sustained recovery.

但是，儘管勢頭更新，但ETH仍然以低於2,000美元的關鍵交易，這一水平必須被違反，以確認市場結構的有意義的轉變，並為持續的恢復奠定了基礎。

As traders assess Ethereum's outlook, attention is also turning to the ETH/BTC ratio, which has reached its lowest volatility level in more than two years. According to top analyst Daan, this metric has been in a prolonged downtrend but has now stalled for over a month.

當交易者評估以太坊的前景時，注意力也轉向了ETH/BTC的比率，ETH/BTC比率已在兩年多以來達到其最低波動率水平。據頂級分析師Daan稱，該指標一直處於長期下降趨勢狀態，但現在停滯了一個多月。

Historically, such low-volatility periods often precede sharp directional moves, as the market builds pressure and prepares for a breakout or breakdown.

從歷史上看，這種低揮發性時期通常是在急劇方向前進的前提，因為市場會增加壓力並為突破或崩潰做準備。

While Ethereum's price remains technically fragile, the combination of reduced volatility, long-term support on the ETH/BTC pair, and renewed bullish momentum on the USD chart is creating a cautiously optimistic setup. The coming days will be crucial as ETH tests resistance. A confirmed breakout above $2,000 could be the signal that Ethereum's next leg higher is about to begin.

儘管以太坊的價格在技術上仍然很脆弱，但降低的波動性，對ETH/BTC對的長期支持以及在美元圖表上的新看漲勢頭的結合正在創造謹慎樂觀的設置。隨著ETH測試的抵抗力，未來幾天將至關重要。確認的突破超過2,000美元，這可能是以太坊的下一條腿即將開始的信號。

Ethereum Struggles Below $1,900 As Risk And Uncertainty Dominate

以太坊掙扎在$ 1,900以下的風險和不確定性占主導地位

Ethereum is facing renewed pressure after failing to break above the $1,874 high set on May 1st, leaving bulls with the urgent task of reclaiming momentum before volatility takes over. The asset is currently trading at a critical support level, unable to establish a clear direction as global markets remain fragile.

以太坊在5月1日未能超過1,874美元的高度之上，面臨著新的壓力，使公牛隊的緊急任務是在波動接管之前恢復動力。該資產目前正在以關鍵的支持水平進行交易，由於全球市場仍然脆弱，無法建立明確的方向。

With Ethereum still down more than 55% from its December highs, the bearish price structure remains intact, and any further weakness could trigger deeper downside.

由於以太坊的12月高點仍然下降了55％以上，看跌的價格結構仍然完好無損，而且任何進一步的弱點都可能引發更深層的方面。

Market volatility is being fueled by macroeconomic uncertainty, particularly as the U.S. and China continue to engage in high-stakes trade negotiations. Investors are cautious, and Ethereum's inability to show strength amid a broader crypto recovery is raising concerns about its near-term outlook.

宏觀經濟的不確定性促進了市場波動，尤其是當美國和中國繼續進行高風險貿易談判時。投資者謹慎，以太坊無法在更廣泛的加密貨幣恢復中表現出力量，這引起了人們對其近期前景的擔憂。

Adding to the complexity, Daan highlights that the ETH/BTC ratio is now at its lowest volatility level in over two years. While the ratio has been in a long-term downtrend, it has stalled for the past month, suggesting that a breakout (or breakdown) could be near.

Daan加上複雜性，強調了ETH/BTC比率現在在兩年內處於其最低波動率水平。儘管該比率一直處於長期下降趨勢狀態，但在過去一個月中一直停滯不前，這表明可能會發生突破（或崩潰）。

Historically, such compression periods often precede sharp moves. However, Daan notes that the low timeframe trend has not yet flipped bullish, and until it does, any rally should be treated with caution. For now, Ethereum remains stuck in limbo.

從歷史上看，這種壓縮期通常是在急劇移動之前。但是，丹恩指出，低時間範圍的趨勢尚未翻轉看漲，直到趨勢之前，任何集會都應謹慎對待。目前，以太坊仍然陷入困境。

Price Action Details: ETH Testing

價格動作細節：ETH測試

Ethereum is trading at $1,831, showing modest strength after bouncing from recent support near $1,780. On the 4-hour chart, ETH is attempting to establish a higher low and reclaim bullish momentum, but it still faces stiff resistance below the key $1,874 high from May 1st.

以太坊的交易價格為1,831美元，在最近的支持近1,780美元的支持中彈起後，其強度適中。在4小時的圖表上，ETH試圖建立更高的低點和恢復Blullish的動力，但從5月1日起，它仍然面臨著低於關鍵$ 1,874的僵硬的阻力。

Price is consolidating just above the 200-period EMA at $1,787 and the 200-period SMA at $1,699—two levels that have served as dynamic support and resistance zones throughout recent trading sessions.

價格正固結在200週期EMA以上，$ 1,787，200- period SMA（1,699美元）在最近的交易中一直是動態的支持和阻力區域。

This sideways action highlights indecision as ETH struggles to break free from its range, with volatility compressing and volume remaining muted. A clean breakout above $1,874 could signal the start of a bullish leg targeting the psychological $2,000 mark. However, failure to hold above the $1,780–$1,750 region would likely invalidate the structure and open the door for further downside.

側向動作突出了猶豫不決的猶豫不決，因為ETH難以擺脫其範圍，並且揮發性壓縮和體積保持靜止。超過$ 1,874的清潔突破可能標誌著目標是目標2,000美元的看漲腿的開始。但是，如果不超過$ 1,780- $ 1,750的地區可能會使該結構無效，並為進一步的缺點打開大門。

Technical indicators suggest that momentum is building, but not yet confirmed. Until Ethereum reclaims the $1,900–$2,000 range, the broader bearish trend remains in play. For now, ETH is in a critical zone where both bulls and bears have a case, making the next few sessions pivotal in determining whether Ethereum continues to recover or resumes its downtrend.

技術指標表明，勢頭正在建立，但尚未確認。直到以太坊收回了$ 1,900- $ 2,000的範圍之前，更廣泛的看跌趨勢仍在起作用。就目前而言，ETH處於關鍵區域，公牛和熊都有一個案例，這使接下來的幾個會議關鍵在確定以太坊是否繼續恢復或恢復其下降趨勢。