On July 23, 2026, Ethereum (ETH) is trading in a high-range consolidation and is in a period of choosing a key direction. The price is narrowly fluctuating within the $1920-$1950 range, trading around $1930** intraday. The overall trend is biased bullish, but short-term momentum is weakening, and there is clear pressure in the **$1946-$1960** area.

Key levels

· Upper resistance: short-term $1946-$1950, with the key watershed at $1960-$2000.
· Lower support: short-term $1910-$1920, with the core defense level at the $1900 integer support.

Mainstream strategy references (from community technical analysis, for reference only)

· Range trading: near $1915-$1920, you can try a low-position long; stop loss below $1908; if price rebounds to the **$1950-$1960** area and stalls, consider a short.
· Breakout follow-through: if it breaks below $1900 with increased volume, stay on the sidelines and wait; if it breaks above $1960 with increased volume and holds, it may open upside space.

Risk warning
The current large-cycle environment is under pressure, but small-cycle repair is ongoing. On-chain data remains active and regulatory tailwinds provide support; however, inflation concerns triggered by an oil price rebound limit upside. Consider low-position trading, strictly follow stop losses, and avoid chasing or cutting at mid-range levels. #以太坊