ETH short-term pullback of 0.08%: Arthur Hayes keeps adding, but overbought conditions in the short cycle are triggering a technical correction

Between 20:00 on July 26, 2026 and 00:00 on July 27 (UTC), ETH showed tight-range consolidation with a pullback. The return was -0.08%, with a price range of 1,912.7–1,914.64 USDT, and the Ampl was just 0.10%, indicating a cautious trading mood.

The main driver behind this move was a natural correction after short-term technical indicators became overbought. Both the 15-minute and 1-hour RSI entered the overbought zone. ADX > 50 suggests the short-term trend is strong but has also generated overheated signals, prompting some short-term profit-taking to close positions. Notably, although ETH rose 3.85% over the past 24 hours and rebounded to around $1,949, its performance was weaker within the specified time window, reflecting technical adjustment demand after the sharp rally.

In addition, multi-factor convergence amplified volatility: Arthur Hayes has continued accumulating 3,914.84 ETH since July 15 (average price $1,908.86), and he recently added roughly $1.2 million more, providing some support to market sentiment. U.S. spot ETH ETFs saw $70.7M in net outflows, ending a five-day streak of net inflows, suggesting institutional capital is withdrawing in phases. Meanwhile, the verifier exit queue first fell to zero, easing expectations of mid-term selling pressure. The order book shows a large buy order wall at $1,949.32 (2.766 units, accounting for 66.5% of the top-of-book orders), indicating buy-side absorption at the current level.

For the short term, watch for pullback risk. Key support levels are $1,926 (today’s open), $1,908 (Arthur Hayes’ cost line), and $1,876. Resistance is at $1,967 and the $2,000 psychological level. ETF fund flows and on-chain actions by large investors will influence near-term direction; it’s recommended to monitor whether trading volume confirmation aligns.