7.21 ETH evening market view

Overall, it follows the broader market and stays in high-level range trading while repairing. During the day, it surged toward around 1930 and then fell back under pressure. The price holds above the 1940 level, but during the rally phase there isn’t enough incremental capital; multiple attempts to probe the upper resistance have failed to break through with volume. In the short term, bullish momentum gradually weakens. The evening is mainly characterized by repeated back-and-forth trading within a range, with no unilateral big-up price action.

Near-term upside is suppressed in the range 1930-1945, while 1970 is a strong mid-term resistance. On the downside, the core supports are 1890 and 1835. Short-term moving averages continue to hold up price; each time it revisits support, buy-the-dip capital steps in. As long as it hasn’t effectively broken below, the overall range-repair structure remains intact. Short-cycle indicators show slight overbought signals; after the lack of sustained upward attempts, there is a need for a pullback and shakeout.

Evening reference ranges:
1、Bounce to 1935-1950, defend above 1955, targets 1890 and 1835;
2、Pull back to 1835-1890, defend below 1810, targets 1930-1940.
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