ETH drops 0.73% in 15 minutes: A short-term digestion of overbought pressure, while the overall trend remains bullish.

From 13:45 to 14:00 (UTC) on July 27, 2026, ETH saw a short-term dip of 0.73% within 15 minutes, with a price range of 1,957.57 to 1,976.81 USDT and an amplitude of 0.97%. Despite the short-term pullback, ETH is still up about 4.00% over the past 24 hours, rising from the low of $1,886.98 to around $1,963 currently, nearing the 24h high of $1,981. Order book data shows a bid-to-ask depth ratio of 5.49; bids are dominant, but absolute volumes are relatively small, and short-term momentum has started to slow.

The main driver behind this short-term pullback is technical correction demand. The 4-hour RSI has entered the overbought zone, suggesting the short-term price may face pullback pressure or need to consolidate sideways; the 15-minute moving averages have turned bearish, showing signs of fading short-term momentum. After rapid price gains, passive buying pressure from successive short liquidations has gradually been absorbed, and profit-taking sell orders have emerged, driving the short-term dip.

Meanwhile, the macro environment remains favorable for risk assets. Easing geopolitical tensions in the Middle East led to falling oil prices; US 10-year Treasury yields have held steady around 4.7%. BTC has remained above the $65,000 integer level, and overall market sentiment remains bullish. At the institutional level, Bitmine Immersion increased its holdings by nearly 10,000 ETH last week, bringing total holdings to over 5.7 million ETH—reflecting continued institutional allocation demand for ETH and providing positive support to market sentiment. The 1-hour ADX is as high as 64.83, indicating that short-term trend momentum is still relatively strong.

What to watch is that ETH is still trading below the realized price of $2,305, and overall holders remain in unrealized losses; the sustainability of this rebound still needs to be verified. Key observation points this week will be US macroeconomic data and Fed policy signals. If the data is weak, it could strengthen rate-cut expectations and benefit risk assets. For resistance, watch $1,981 (24h high) → the $2,000 psychological level. For support, watch the $1,940–$1,950 range. Whether the 4-hour RSI overbought condition can be digested through sideways consolidation, and whether trading volume can be effectively amplified, will be the key short-term signals.