July 16 ETH midday analysis

ETH is currently consolidating around its 1,917 high. After pushing intraday up to 1,946, it has pulled back slightly, which is a normal retest after a breakout. Flows show a net inflow of $185 million and the fee rate is only 0.0053%. The long-side structure remains solid. On the order book, a $19.54 million large buy order is placed, showing the main players’ intention to protect the price. Near-term support is at 1,913; if it holds, it will build momentum to attack 1,946 and even the prior high. If it breaks, look for 1,890. ETH has been consistently outperforming BTC recently, with clear capital rotation. The daily trend is biased bullish, but chasing higher levels should be done cautiously; a pullback with confirmation of support is a safer approach.
Personal suggestion: 1,940-1,970 range, target 1,870-1,820.