7.20 Afternoon Market Observation: ETH

In the afternoon, ETH followed the overall market with narrow-range fluctuations. After a slight push higher, it came under pressure and pulled back. Trading activity throughout the day was relatively low; every rebound lacked sufficient follow-through capital. Long and short sides kept tugging back and forth around key price levels, and the market has not yet broken into a one-way trend.

In the near term, the suppressing range is 1860–1890, while 1900 is the key mid-term resistance/pressure level. Core supports are at 1820 and 1780. The recent lows have shown steady acceptance/absorption, and as long as they have not been effectively broken, the near-term consolidation and rebound structure remains intact. Short-cycle indicators show that upward momentum continues to fade, and multiple attempts to probe the overhead resistance failed to break through with sufficient volume expansion.

Market reference ranges:
1. If the price rebounds to 1860–1890箜, defend above 1900; targets are 1820, 1780, and 1750;
2. If the price pulls back to 1750–1780哆, defend below 1720; targets are 1830–1860.
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