7.29 Ether early-morning chart observation

In the early hours, it continued to weaken following the broader market, and the current price is consolidating in a low range near 1862. The interest rate decision in the early morning is about to be released, and risk-averse sentiment in the market is heating up. This asset shows stronger volatility and elasticity: leveraged funds are concentrating to exit, while sell pressure keeps increasing in volume and being continuously released. Overall, the short-term market is under pressure. Liquidity is insufficient in the early morning, so frequent wick-like price spikes are occurring.

The short-term suppressing range is 1890-1910. The prior high at 1956 has turned into a strong resistance. Below, the key supports are 1830 and 1800. With the indicators continuing to drop, they have moved into an oversold range, and there is buying support near the lows.

Early-morning reference ranges:
1. Rebound 1890-1910 箜; defend above 1930; targets 1830 and 1800.
2. Pullback 1800-1830 哆; defend below 1780; targets around 1880.
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