7.23 ETH morning order-book observation

Overall it follows the broader market in tandem. After yesterday’s spike met resistance, it consolidated and pulled back; this morning it remains in a slightly weak range for consolidation. Profit-taking from the high area continues to be realized. An upward push lacks incremental capital, and short-term long momentum is fading. In the short run, price mainly digests positions through range-bound consolidation, with no one-way market.

The near-term suppressing range is 1930-1960, and 2000 is the key mid-term resistance level. Key supports are 1870 and 1835 below; at the pullback levels, there is still supporting inflow, and before an effective breakdown, the mid-term consolidation-and-repair structure has not been broken. Short-cycle indicators are gradually weakening, and there is still a possibility of probing lower to test support.

Morning reference ranges:
1、For a rebound in 1930-1960, protect above 1970; targets are 1870, 1835;
2、For a pullback in 1835-1870, protect below 1810; target is around 1920.
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