7.28 Ether afternoon market observation

In the afternoon, it moved weaker in line with the broader market; the decline is larger than that of the overall market. The current price has been consolidating around 1885. As the interest rate decision approaches in the evening, market liquidity preference tightens. Sell pressure on high-volatility assets concentrates and releases, leveraged funds exit in clusters, downward momentum is sufficient, and the market overall remains weak in the short term.

In the short term, the suppressing range is 1900-1920, and 1956 has turned into a stage strong resistance. Core support lies at 1860 and 1830 below. With consecutive pullbacks, the pullback indicators have entered the oversold range, and there is buying support at the lower levels.

Afternoon reference ranges:
1、For a rebound 1900-1920, defend above 1940, targeting 1860 and 1830；
2、For a pullback 1830-1860, defend below 1810, targeting around 1890.
#ETH