7.20 ETH Morning Analysis:

Between 1890 and 1930, Ethereum (ETH) is being accumulated in batches with light activity. The target is 1860, with defense at 1840.

In this round, the market first pushed higher to probe the 1891.20 high, then came under pressure and pulled back. Overall, it has formed a consolidation-to-downtrend structure characterized by two rounds of rallying and then retreating. The Bollinger upper band continues to curl downward, and the channel opening has gradually shifted to a more bearish operation. In the near term, rebounds that touch the mid-band pressure area are once again rejected, and the “moves-led-by-the-head” tempo is very clear.

The rebound on the chart is only weak recovery after a major drop. Every time it touches the Bollinger upper band, it brings a concentration of sell pressure, and there is a strong willingness for funds to exit when prices are higher. Compared with BTC, Ethereum’s rebound strength is weaker; the ability for long positions to take over is lacking. On the short cycle, the Bollinger mid-band has already turned into a strong pressure zone, so it is difficult for the price to sustain itself above the mid-band.

On the hourly timeframe, rebound volume continues to shrink. Although downside momentum is released in phases, the layered pressure from above is obvious. Rebound space is severely compressed, forming a typical market structure of “rebound is an opportunity to short.” There is no clear improvement in fundamental market sentiment. In the short term, short-line funds mainly take profit and exit at high levels, and there are no conditions for a sustained one-way upward trend.
$ETH #美军结束对伊朗新一轮打击 ‌