ETH 12:00-16:00 UTC slightly down 0.12%: technical pullback combined with macro cautious sentiment triggers short-term pressure.

Between 12:00 and 16:00 UTC on July 1, 2026, the ETH price fell from around 1569.56 USDT to 1566.52 USDT, with an intraday amplitude of 0.39% and a yield of -0.12%. This period coincided with the transition from the Asian trading session to the European and American sessions, with relatively low liquidity. Although the price fluctuations were moderate, they occurred within a sensitive range in the recent market.

The main drivers of this slight decline were a combination of technical correction demand and cautious macroeconomic sentiment. After the price rebounded from around $1,500 to the $1,630 range, short-term profit-taking positions were closed in the afternoon, causing the price to fall. At the same time, early July is just before the Federal Reserve's interest rate decision, and market sentiment tends to be cautious, with a stronger dollar exerting temporary pressure on risk assets.

In addition, multiple secondary factors created a resonance amplification effect. Ethereum's Glamsterdam upgrade was officially postponed to the third quarter of 2026, which had a certain impact on short-term market confidence. The futures market maintained high open interest of about $23 billion, with leveraged long positions facing increased unwinding pressure. Altcoins underperformed Bitcoin overall, with capital flowing toward major assets, placing additional relative pressure on ETH. On-chain data showed long-term holders buying the dip, but short-term traders were more sensitive to macro events, which failed to prevent the price correction.

The current price is still operating within the key range of $1,500 to $1,753. It is necessary to monitor the effectiveness of the support level at $1,500. If the daily close falls below this level, it may open up downside space. The Fed's policy statements and on-chain capital flows will become key short-term observation indicators. It is recommended to pay attention to the price performance after liquidity recovers during the evening European and American trading sessions.