7.6 ETH Analysis

After the ETH hourly chart surged to a high of 1808, bullish momentum completely faded. Highs continued to move lower, forming a step-down decline pattern with consecutive bearish candles. Currently at 1780, the price is under pressure from the short-term yellow moving average, which has shifted from support to resistance. Only the mid-term moving average at 1775 provides short-term support. Multiple wicks probing lower indicate weak buying interest at the bottom, with extremely weak rebound strength. Structurally, the morning rally was a impulse move, lacking follow-up incremental funds. Profit-taking by bullish holders concentratedly exited, combined with increased risk aversion in the market ahead of the CPI data. BTC also weakened, forming a joint suppression effect, and bearish momentum continued to release. The moving average zone between 1788-1790 above is strong resistance; rebounds to this level are likely to encounter pressure and fall. If the key support at 1775 breaks down with volume, the downside space will fully open.

The first target is the starting low of this rally at 1769, with a further decline to the long-term moving average support at 1755.

Trading suggestion: Short at 1800-1830, target 1730-1650.$BTC $GT $SOL