July 16 afternoon $ETH afternoon analysis

Overall crypto market risk appetite continues to rise. BTC continues to break out and refresh rebound highs, driving the overall sector to lean long; ETH follows with strong momentum. On-chain funds show small-scale inflows returning, while institutional funds continue to accumulate spot positions. The previous 1748 low has completed clearing of short-side strength, and liquidity is forming a positive supportive base, providing underlying momentum for this uptrend. The Bollinger Bands also open upward at the same time, forming a standard bullish trend pattern. Price started to reverse from the lower band at 1724, then steadily held above the midline at 1845.50. The midline has fully flipped from prior resistance into a strong support line of defense. Current price is running in the upper-middle portion of the upward channel. The Bollinger upper band at 1966.60 is the first target for this up move. Channel expansion indicates upside potential has not finished yet, and there is no trend reversal signal. One personal suggestion: pull back near 1830-1880, target around 1955-1990 #BTC #ETH #ETH走势分析