The Macro Picture 🗺️
ETH carved a base between $1,510 and $1,550 through late June after sliding off its $1,850 mid-June high, and that floor has proven solid — every dip into it was bought. Price has since built a clean recovery, stacking higher lows out of the base and driving back to $1,725 with RSI now pushing 72. Momentum has decisively flipped bullish, and the mid-June supply is the only structure left between here and a full retest of the highs.
The Setup ⚙️
The Reaction: The recovery from the $1,550 macro floor has been steady and structural, not a sharp spike — the healthiest kind of base-building. Buyers have defended each pullback, and the RSI push through the upper band confirms the demand behind this leg is real.
The Ceiling: The immediate hurdle is the $1,775 decision, the mid-June lower high and the base of the overhead supply band. Clearing it removes the last barrier before the $1,850 macro resistance and the June high.
The Roadmap: Primary target sits at $1,775 — the decision level where the green roadmap points, with $1,850 the extension once it flips to support and the buy stops above it trigger. Invalidation: a sustained 1D close below $1,650 would break the recovery structure and reopen the path back toward the $1,550 base.
