7.8 ETH Midday Analysis

On the 15-minute level, an accelerated pullback structure has unfolded. Price fell from the 1833 high with consecutive bearish candles down to 1741, effectively hunting long stop-loss orders near the previous low to form a liquidity pool cleanup. The current market is consolidating sideways around 1752. This area is near the lower boundary of the value area from the recent volume distribution, and there are signs of phased exhaustion in sell pressure. From the perspective of order flow, the order book in the 1740-1741 range shows passive bid stacking, forming a short-term demand-based order block. Combined with a long lower shadow hammer-like candlestick at the end of the move, it suggests that short covering may trigger a quick spring. Supply pressure above is concentrated in the 1770-1780 area—this is the prior broken-out platform and also the accumulation zone for unfilled sell orders—forming a key resistance zone. If a rebound reaches this zone and a bearish engulfing or stagnation signal appears, shorts can cover and re-enter opportunistically.

Trading plan: For a short-term rebound, go long around 1740, targeting 1780-1830;

If price moves above 1800 and sell-side pressure is confirmed,
then switch direction to a short approach, targeting 1770-1740.

Swing pullback 1790-1830: target 1720-1630.