7.22 ETH early-session market observation

Overall, the market is moving in sync with the broader market strength. Overnight, it continued to consolidate and push upward. In the early session, it surged to around 1940, where it met pressure and paused slightly. In the short term, the overall trend is still biased toward repair and upward movement. The moving averages are in a bullish alignment and support the price. However, during the rally to higher levels, incremental inflow is insufficient; short-cycle indicators are nearing overbought, so there may be a mild pullback and a shakeout.

In the short term, the suppression range is 1930–1960, and 2000 is a key medium-term resistance level. Below, the core supports are 1890 and 1835. Short-term moving averages continue to hold up the price. Each time the market retests support, there is follow-through from incoming funds, and there has been no effective breakdown below the prior level—so the upward repair structure remains intact.

Morning reference ranges:
1. Bounce to 1930–1960, defend above 1970, targets 1890 and 1835;
2. Retrace to 1835–1890, defend below 1810, targets 1940–1960.#ETH