ETH holds firmly at the 1750 level, short-term consolidation becomes the main theme

After Ethereum stabilized at the key 1750 level, the market did not form a unilateral trend. The long-short battle has entered a balanced consolidation phase, and range-bound trading may become the core short-term trajectory.

From a technical chart perspective, the 1750 level has previously absorbed selling pressure multiple times. After this rebound, capital formed effective support here, with buying pressure below significantly strengthened, alleviating the risk of a sharp short-term decline. However, the 1780-1820 zone is piled with earlier trapped positions, and each rally attempt meets concentrated selling. Upward momentum continues to wane, lacking volume-driven breakout support, making it difficult to directly open upside space. On the indicators, the daily chart's rebound structure remains intact, but bullish momentum on the 4-hour timeframe is gradually weakening, volatility is narrowing, and the market naturally enters a sideways consolidation window.

Macro and fund flow dynamics also constrain a unilateral move. The market is still pricing in the pace of Fed rate cuts, with the dollar and Treasury yields fluctuating repeatedly, and risk assets overall cautious. Ethereum spot ETF flows are inconsistent, institutional incremental capital has not yet entered on a large scale, and the market exhibits a pronounced zero-sum game among existing participants, lacking a sustained catalytic force. Although the long-term fundamental thesis of Layer 2 ecosystems and staking yields remains unchanged, it is insufficient in the short term to push prices out of the consolidation range.

Under the consolidation pattern, the market is likely to oscillate back and forth in the 1700-1820 range. To the downside, watch the effectiveness of support at 1750; if it breaks with volume, the price will retest the 1650 level. To the upside, it needs to hold above 1820 with volume to confirm the continuation of the rebound. For traders, chasing highs and selling lows in a unilateral move is low cost-effective; buying dips and selling rips in the range is more suitable for the current rhythm. At the same time, they need to continuously track two key variables—US inflation data and ETF flows—waiting for a clear signal to break the consolidation.

Risk Disclaimer: Cryptocurrency is highly volatile. This article is solely a technical analysis of the market and does not constitute any investment advice.