7.25 ETH Morning Order Book Observation

The broader market continues to weaken in tandem, and in the morning price is moving sideways near the lows around 1840. The external interest-rate environment suppresses risk appetite. Earlier high-level positions are taking profits and getting concentrated, and short-term bulls have weakened significantly. Liquidity in the weekend market is relatively thin, so fluctuations on the chart are likely to be amplified.

In the short term, the suppressing range is 1870-1900, with 1956 as the key phase resistance. Major support lies below at 1820 and 1790. After consecutive pullbacks, short-term indicators have entered an oversold range, and there is staged accumulation at lower levels.

Morning reference ranges:
1、For a rebound 1870-1900, keep defense above 1920, with targets at 1820 and 1790;
2、For a pullback 1790-1820, keep defense below 1770, with a target around 1880.
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