ETH rebounds 0.54% in 15 minutes: macro risk-off sentiment eases, but sell-side pressure remains

From 23:45 on July 13, 2026, to 00:00 on July 14, 2026 (UTC), ETH rebounded 0.54% within 15 minutes, rising from 1766.91 USDT to 1778.09 USDT, with an amplitude of 0.63%. Despite a short-term technical rebound, the order book still shows a severe sell-side imbalance, and market sentiment remains cautious.

The main drivers of this move were marginal improvements in macro risk-hedging sentiment. News of an escalation in the Middle East geopolitical conflict (the Strait of Hormuz being closed) was already priced in during the session. As the risk event did not worsen further, the DXY fell back from its highs, and ETH recouped some losses. However, the dollar overall remains in a relatively strong range, and the suppressive effect on risk assets has not been fully lifted.

Meanwhile, the order book’s microstructure indicates that sell pressure remains heavy. The bid/ask depth ratio is only 0.13, with total bid size at 1.45 ETH versus total asks at 11.18 ETH. Around $1775.47, there is a large sell wall of 7.41 ETH, accounting for 66.2% of the top five levels. Resistance is also densely packed above. Additionally, news that Trump-linked companies disclosed plans to shift crypto gains into stocks and bonds—though a weak signal—was interpreted by the market as a potential sign of institutional fund outflows, further dampening long enthusiasm. Technically, ADX across all time frames is below 25; short-term moving averages are bearish while long-term moving averages are bullish, with a clear split between bulls and bears. The market is currently in a short-term pullback phase within a daily uptrend.

Short-term risks still warrant caution: if $1750 support is broken, ETH may test the $1700 psychological level. Going forward, focus on the DXY trend, progress on the SEC regulatory framework, and changes in order book depth ratio. It’s recommended to treat the current rebound cautiously and guard against the risk of a selloff after a spike.