Ethereum (ETH) Full-Day Trend on July 8, 2026

I. Real-Time Price (As of 21:15)

Current Price: $1,737–$1,740, 24h decline of 1.8%–2.0%

- Intraday open: $1,782
- 24h high: $1,812.6
- 24h low: $1,725.3
- Approximately 11,800 yuan nearby
- Intraday volume down 9.18% from the 30-day average, buying momentum weak

II. Intraday Market Review

1. Morning rally (0:00–10:00)
Continued the slight rebound inertia of previous days, reaching a high of $1,812, testing the $1,800 round number resistance, but lacked volume, and bulls failed to hold.
2. Midday plunge (10:00–16:00)
Sudden geopolitical conflict in the Middle East (tensions between the US and Iran over the Strait of Hormuz); global funds shifted to safe havens, risk assets collectively sold off; Bitcoin fell below $63k, Ethereum followed with a rapid drop, directly breaking through the key support at $1,750.
3. Evening low-range consolidation (16:00–21:00)
Prices oscillated narrowly in the $1,725–$1,750 range, repeatedly testing support near $1,720, with a weak rebound; the 50-day moving average at $1,790 formed strong resistance, short-term bears dominant.

III. Core Drivers of the Decline

1. Geopolitical risk aversion suppression
Escalation in the Middle East drove capital out of high-risk assets like crypto into crude oil and the US dollar for safety. The entire market fell, with ETH losing more than BTC, underperforming the broader market.
2. Weak macro liquidity expectations
Markets awaited the evening US ADP employment data and the early morning Fed meeting minutes; if employment data proves strong, it would reinforce expectations that the Fed may not cut rates this year, further pressuring crypto valuations.
3. Technical breakdown signals
Lost the 20-day moving average (near $1,790), all short-term moving averages turned downward; trading volume continued to shrink, the rebound lacked incremental capital support, and multiple resistances piled up above.
4. Weakening capital sentiment
Ethereum ETFs continued to see small net outflows, the ETH/BTC ratio remained low, capital preferred Bitcoin as a safe haven, and Ethereum ecosystem capital was clearly diverted.

IV. Short-Term Key Price Levels

Resistance (top to bottom)

1. First resistance: $1,750 (support that was broken today, now turned resistance)
2. Strong resistance: $1,790–$1,800 (50-day MA + intraday high range)

Support (high to low)

1. Short-term support: $1,720–$1,725 (intraday low)
2. Mid-term defense: $1,700 round number
3. Strong support: $1,650

V. Key Points to Watch Going Forward

1. US ADP employment data tonight: If the data comes in stronger than expected, ETH will likely test $1,700; if weak, it may recover back above $1,760.
2. Early morning Fed meeting minutes: Focus on officials' stance regarding the timing of rate cuts.
3. Whether the situation in the Middle East escalates further; if conflict expands, the crypto market will continue to weaken.

Risk Warning

Cryptocurrency is extremely volatile. This market analysis is solely an objective compilation of market information and does not constitute any investment advice. High-leverage trading carries significant risk of heavy losses. Please participate with caution.