7.14 Morning “Second Pancake” (ETH) Analysis

Analysis: short around 1790–1798; first target 1772, second target 1760; defense 1810
After the price spiked upward and then rose with clear weakening of upward momentum on the 15-minute timeframe, it reached a high and came under pressure, exiting a continuous pullback candlestick sequence. The rebound’s sustainability is severely insufficient this time. The market repeatedly probes the prior high above, but it never receives incremental buy-side support. Bullish entry willingness keeps cooling; at the high end, short-term profit-taking gradually exits. Combined with overhead pressure from historically trapped positions, this leads to pressure selling from above. Short-seller sell pressure accumulates step by step. Without a breakout above the prior high on increased volume, it is difficult for this rebound to continue. In terms of trading, wait for the price to rebound into the resistance zone, then short in line with the trend. On the downside, focus on 1770 as the key short-term support level; if that level is lost, the market will continue falling to search for lower support.
#ETH$ETH