7.23 ETH Afternoon Market Watch

With the broader market maintaining range-bound consolidation, the price faced resistance after an early push higher and then continued to digest profit-taking orders. There is a lack of incremental capital on the board, upward momentum gradually weakens, and bulls and bears continue to spar throughout the afternoon. In the short term, it’s difficult to break out into a one-sided trend.

In the near term, the range is pressured within 1930-1960, and 2000 is the key mid-term resistance level. The core supports below are 1870 and 1835. When price revisits these supports, there is demand/positioning support. As long as there is no effective breakdown below, the mid-term consolidation and repair structure is not considered to have been damaged. Short-cycle indicators remain weak, with a possibility of continuing to test lower to probe support.

Afternoon reference ranges:
1、Rebound within 1930-1960, with #ETH ; defend above 1970. Targets: 1870, 1835;
2、Pull back within 1835-1870, with ; defend below 1810. Target: around 1920.