7.26 Bingbing Board Overview

Direction: Ranging and stabilizing; in the short term, bias is slightly sideways-to-long—pullbacks are mainly the focus.

Sideways-to-long (哆): Around 1860-1865, stop-loss at 1845, targets 1890/1905;
Sideways-to-short (控): Around 1905-1910, stop-loss at 1925, targets 1885/1865.

Bingbing dipped to 1851 yesterday, then stopped falling and rebounded. The current price is around 1885, and it has already reclaimed the MA20 line near 1880, so the short-term positioning structure has eased somewhat. However, on the FX side, ETH/BTC is still hovering around 0.029 at low levels, indicating that capital preference for BTC remains higher than for Bingbing, so rebound strength may be limited.

Regarding ETFs, Ethereum spot ETFs saw net outflows of about $8.0 million yesterday, with small outflows continuing for two consecutive days; institutional sentiment has not fully turned warmer. On-chain Gas fees remain low at 2-3 Gwei, on-chain activity is quiet, and there is a lack of independent upside impetus supported by fundamentals.

Technically, 1905-1910 above is the short-term pressure zone. If the rebound returns to this area but cannot break through with strong volume, you may consider taking the opposite side to short. If the support zone 1860-1865 below holds, you can lightly try a rebound; if it breaks below 1845, the long (哆) structure will be hindered, and the next level to watch is 1830-1815.

Key range: 1860-1910$ETH #夏日创作营