ETH Thoughts Today (July 23) — ETH Price Trend Analysis

Yesterday, ETH pulled back from around 1940-1950, and the low reached around 1910.

After many people saw the spike and pullback, their first reaction was:

“Is it going to drop back to 1900?”
“Is it going to go to 1880 next?”

But yesterday’s move was actually pretty clear: after ETH retraced to around 1910, it didn’t keep breaking down below—it instead quickly reclaimed.

That’s also why I didn’t recommend forcing a short on ETH yesterday.

Because recently, ETH’s price action has been clearly stronger than BTC’s, so you can’t simply follow BTC’s rhythm.

At the moment:

ETH is still relatively bullish. Today’s approach is mainly to go long on pullbacks, and to watch resistance overhead.

🟢 Long setup (buy on pullback)

Entry zone:

Around 1910-1920

Stop loss:

Below 1900

Targets:

Around 1935 / 1950 / 1960

Thesis:

If the pullback fails to break the support area, it means there’s still buying/absorption underneath.

If price comes into this level, you can consider a long opportunity.

🔴 Short setup (pressure area)

Entry zone:

Around 1950-1960

Stop loss:

Above 1965

Targets:

Around 1930 / 1910

Thesis:

Once price moves into the overhead pressure area, if there’s clear rejection, you can consider a short-term short.

But currently, around 1930 isn’t suitable for directly chasing a short.

Today’s key points for ETH:

Don’t chase longs just because it’s rising, and don’t think about shorting all the way just because it’s pulling back.

Yesterday, the 1910-1920 area already gave a pretty good opportunity.

The issue for many traders isn’t that there are no chances—it’s that after taking a little profit, they start fantasizing about even bigger upside, and in the end they give the profit back.

The longer you hold, the more your emotions get affected.

When you’re winning, it’s easy to get greedy; when you’re losing, it’s easy to panic.

So you don’t have to participate every day. What matters is having the courage to act when the opportunity comes.

The market won’t always move according to our expectations, so doing analysis in advance is to leave yourself room to handle changes.

No matter how the market moves, we respond accordingly. #GOOGL财报亮眼但盘后跌超3% $ETH ‌