July 7, near 1815, light short on ETH, Qingcang (open/hold), target 1750/1720

Those who want to go long (哆) can go long near 1750, Qingcang (open/hold), stop loss 1735, target 1800
After ETH surged to 1833 yesterday, it then saw a rapid pullback. Currently, the price is trading and consolidating around 1779.
Structurally, since the rebound from the low at 1549, ETH has maintained an overall oscillating upward trend. In the short term, the moving averages are still running upward, and the trend has not yet been completely broken.
However, it’s important to note that above 1800, there have been consecutive surges and pullbacks, with clear upper wicks, indicating that selling pressure at higher levels has started to release.
If, in the short term, the market cannot regain and hold above 1800, it is highly likely to first move into a retracement, testing support around 1750.
On the news front, the market’s focus remains on expectations of a Fed rate cut, changes in U.S. dollar liquidity, and the direction of institutional funds.
From a macro perspective, there have been no obvious negative developments. The market is still following technical rhythm more than anything else—when it has risen too much, it needs to release pressure; when it falls deeply, there will also be funds stepping in to absorb.
My thinking is very simple:
There is clear resistance in the 1800–1830 area above—don’t chase longs; use rebounds as opportunities to set up positions.
Support near 1750 below is key for the short term. If the retracement doesn’t break it, you can still buy at low levels and look for rebound and recovery.
The market is never about who can run faster, but about who can wait until there is certainty.
The truly big moves often hide when most people lose patience. $ETH #ETH