7.10 Light position ETH short near 1775, target 1750/1720

If you want to go long, you can take a light position long near 1720, defend 1700, target 1760/1780
$ETH #ETH: The “Yi Tai” is currently trading at 1766. On the 1H timeframe, it has retested the short-term moving averages; around 1775 is still a short-term resistance area.
From a structural perspective, price is still trading above the medium-term moving averages, and the major trend has not been broken.
However, after attempting to push higher at 1800 two times in a row, it failed to hold—showing that sell pressure from above still exists.
If price cannot reclaim 1780 again in the short term, another pullback is expected to confirm; on the downside, focus on the 1750 support area.
News is still centered on expectations for a Fed rate cut and institutional capital flows.
At present, there are no new major negative catalysts in the macro environment; the market is mostly following a technical rhythm.
After the previous period of continuous rallies, capital has started rotating from high to low, and the cost-effectiveness of chasing highs has clearly dropped.
Real profit is never made by chasing—it’s made by waiting.
The market has opportunities every day, but they only belong to those with patience. #ETH