7.28 ETH early-session order flow observation

In the early session, the broader market remains in a high-level sideways consolidation, with the current price fluctuating slightly around 1950. Yesterday’s rebound strength led among mainstream pairs, and short-term bullish momentum is sufficient; however, the key interest rate decision for the night has not yet been finalized. Market participants are generally watching from the sidelines, early-session trading volume has shrunk, and at higher levels profit-taking positions have gradually exited. The momentum to push higher has clearly slowed, so price action mainly focuses on consolidating and digesting the gains through sideways movement.
The short-term suppression range is 1970-1990, and the 2000 integer level is a strong resistance. Below, key supports are 1920 and 1900. The pressure levels that were previously broken have turned into support, and the prior short-term upward structure remains intact without an effective breakdown. Short-term indicators have entered the overbought zone, so the additional upside room for the early session is limited.
Morning reference ranges:
1、Rebound 1970-1990, with risk protection above 2010; targets at 1920 and 1900;
2、Pullback 1900-1920, with risk protection below 1880; targets around 1960.
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