7.18 Morning Market Watch: ETH

This morning’s market action follows the overall market’s fluctuations. In the short term, long vs. short is in fierce contention; the market overall remains in a range-bound consolidation state, with no clear one-way trend.
On the four-hour timeframe, price is pressured by the mid-term moving averages. There is clear resistance at 1870 and 1900. Below, the core support is 1820-1810. In that range, buy-side capital shows strong follow-through; once there is a confirmed break below, downside room will expand. On the one-hour chart, the market has repeatedly bounced back to around 1850, then met pressure and pulled back. Short-term upward momentum is relatively weak.

Based on all indicators, long and short forces are relatively balanced right now. During pullbacks, trading activity shows a slight uptick, but during rebounds, capital follow-through is limited. In the near term, the most likely scenario is a continued choppy, range-bound structure.

Reference trading ranges on the chart:
1) If price rebounds within 1845-1860, you can look for pullback opportunities. Set risk protection above 1900. On the downside, watch 1820, 1780, and 1750;
2) If price pulls back into 1750-1780, you can participate in small size to repair the move. Keep the protection level below 1720. For the rebound, watch 1830 and 1860.

Friendly reminder: This is only an objective exchange of chart conditions. The market’s volatility is high—please view the trend rationally, manage risk independently, and do not concentrate large amounts of capital to speculate. #ETH