7.20 Evening ETH Price Action Observation

Overall, the trend weakens in sync with the broader market. After rallying intraday to around the 1890 resistance zone, persistent sell pressure continued to show up. In the evening, it stayed in a weak range-bound consolidation. Trading activity in the market was not strong enough, and there was a lack of follow-up capital during rebound phases. Bulls and bears repeatedly pulled back and forth around key price levels, and there is currently no one-way trend.

In the short term, the pressure range is 1860-1890, and 1900 is the key overhead resistance level for the medium term. The core supports below are 1820 and 1780. During the intraday pullback to around 1840, clear buy support appeared. As long as support is not effectively broken, the short-term consolidation and recovery structure has not turned worse. Indicators over the shorter cycle show that upward momentum continues to fade, and multiple tests of the upper resistance failed to achieve a breakout with increased volume.

Evening reference ranges:
1. Price rebounds to 1860-1890, defend above 1900, targets 1820, 1780, 1750;
2. Price retraces to 1750-1780, defend below 1720, targets 1830-1860.#ETH