7.8ETH Midday Analysis

On the 15-minute timeframe, a structure of accelerated downward movement has emerged. The price fell continuously from a high of 1833 to 1741 in bearish candles, effectively capturing long stop-losses near the previous low, forming a liquidity pool sweep.
The current market is undergoing horizontal consolidation around 1752, which is close to the lower edge of the value area of recent volume distribution, with signs of phased exhaustion of selling pressure.
From the perspective of order flow, the order book in the 1740-1741 area shows an accumulation of passive buy orders, forming a short-term demand order block. Combined with a long lower shadow hammer candlestick at the end of the K-line, it suggests that short covering may trigger a quick bounce.
The supply pressure above is concentrated in the 1770-1780 range, which was the previous breakdown platform and also an accumulation zone of unfilled sell orders, forming a key resistance area.
If the rebound touches this area and shows bearish engulfing or stagnation signals, shorts can take the opportunity to re-enter.

Operation suggestion: In the short term, go long near 1740 to play for a bounce,, targeting 1780-1830;
If the price moves above 1800 and selling pressure is confirmed,
then switch to short, targeting 1770-1740.

Swing short 1790-1830: target 1720-1630.