Observe the current technical situation of ETH. The price has retraced to the Fibonacci golden ratio zone between 0.618 and 0.75, which coincides with multiple historical support levels, forming a double support structure. From the Fibonacci sequence perspective, this area indeed has significant technical importance and is an important retracement point in the previous upward trend.

The key now is that the momentum has entered a highly compressed state. Such extreme compression often indicates a critical point for the subsequent direction in technical analysis. If the bulls can hold steady here, there is a chance for a rebound from this strong support zone. Conversely, if it breaks below this level, further observation of the next support area is necessary.

From a trading perspective, this position is indeed worth close attention. For traders focused on technical analysis, it is advisable to set proper risk management measures in this support zone and wait for clearer directional signals. Currently, it is best to remain cautious and avoid rushing to conclusions.