Core Market Dynamics Current Price and Trend
As of July 22, Ethereum's price fluctuates in the range of $3700-$3800, with a single-day increase of 5% on July 20, and a weekly increase of over 25%.
Institutional funds continue to flow in, with a single-day net inflow of $296.6 million in spot ETFs, pushing the price closer to the key resistance level of $4000. The competition between bulls and bears intensifies.
Bullish Side: Believes Ethereum will break through the historical high of $4868, targeting $5000.
Basis includes:
Market bearish sentiment is strong, breaking new highs could force bears to stop-loss and reverse. Institutional holding costs are concentrated in the $3000-$3500 range, with little selling pressure. Bearish Side: Cautions against short-term corrections, technical indicators show a daily high cross star signal, and it has entered the final stage of the fifth wave. If it breaks below the key support of 116000 (Bitcoin), it could trigger a chain reaction of declines. Key Data and Signal On-Chain Indicators
Futures open interest reaches $52.14 billion (historical high), indicating overheating in leveraged trading.
Exchange ETH balance has dropped to an 8-year low, staking rate exceeds 30%, and circulation tightens.
Technical Key Levels
Direction Price Range Significance
Resistance Level 3800-3850 Previous high pressure zone, breaking could see 4000+ Support Level 3600-3650 Bullish defense line, breaking could turn into a bearish trendline 3750 (daily mid-axis) Short-term bull-bear watershed
Operation Suggestion: Breakthrough at the 3750 position, enter long, look for 3780-3800; after breaking this resistance level, continue to hold for 3850
