July 17 trading strategy:

Yesterday, after ETH consolidated at high levels, it pulled back. Today will test the bulls’ final line of defense.

On the fundamentals, the U.S. Central Command has completed the latest large-scale strike operation against Iran. The U.S. military deployed aircraft, drones, and warships, using precision-guided munitions to hit dozens of Iranian military targets, including coastal surveillance and air-defense positions, military logistics infrastructure, and facilities related to maritime combat capabilities. On the other hand, Federal Reserve officials said that the one-month CPI inflation decline “is not enough.” “Moderately raising” interest rates would better balance outlook and risks.

On the technical side, the 4-hour price has held around 1905, a medium-to-long-term resistance area, and has returned to the broad range of consolidation. The key support level corresponding to the up-and-to-the-right oscillation trend rebound since the 1512 low is around 1813, which is the most critical point for whether ETH can rise again in the near term. If it breaks, price will return to the weak-side adjustment range. On the hourly chart, the 1750-1945 range has ended, forming a deep correction. The near-term support at 1845 is the former high support area, while there is still room for downside correction.

In terms of trading, if price first rebounds, look for short opportunities, mainly watching the 1895 resistance. If price first drops, look for long signals around 1813. For now, with price only mildly consolidating, it is temporarily a wait-and-see. More specific strategies will be provided later. Operation details will be explained in the evening livestream!