7.28 Jack Afternoon “Erbing” Analysis

From the early period on the chart, after starting from the low point of 1841.84, the market kicked off an upswing. After surging and reaching a high near 1980, the upward momentum quickly weakened; the price then dropped rapidly, and multiple moving averages simultaneously turned down, forming overhead pressure.
After a round of fast sell-off, the market has temporarily paused around the 1880 area. The current price is 1880.63, and it’s in a short-term consolidation and rest phase following the sharp drop.
Structurally, what we’re seeing now is only a recovery phase after the decline, and the overall weak trend in the larger timeframe has not yet been reversed. Going forward, pay close attention to two key areas: support around 1870—if that support is effectively broken, the downside room will expand further; the moving-average zone overhead is forming short-term resistance. To get back into an upward rhythm, the price needs to hold above that resistance. #以太 $ETH