Ether's cumulative rebound since 1 July has been around 12 per cent and remains above $1750. The driving forces behind this round-up are mainly the weaker-than-anticipated employment data in the United States, the return of cash from the ETF and the market ' s preference for the restoration of risky assets.

Employment data-driven risk assets Come back. litres

Data from the United States Bureau of Labor Statistics show that in June only 57,000 people were newly employed in non-farm employment, significantly below the market expectations of 115,000. With the release of the data, the market's expectation of a continued tightening of the Fed's policy cooled, the return on the United States debt was reversed and the encrypted assets supported.

The U.S. ETF also ended eight consecutive weeks of net outflows and recorded a net inflow of $29.1 million. Among them, Belet Etha is the main source of inflow. The return of funds eased the pressure on ETH, which had been continuously suppressed.

Econews improves market sentiment.

In addition to macro-level factors, new driving forces have emerged in the recent past in the eco-naviga. On 1 July, Etheum Institute was launched with the support of ecologists, including the co-founder Joe Lubin, with the aim of promoting the adoption of the Etherofa network by institutions.

On 4 July, following a meeting with researchers in Berlin, Vitalik Buterin released an updated version of the “Lean Etherum” road map. The programme proposes to simplify the protocol structure, upgrade the expansion capacity, reduce storage needs and incorporate antiquator safety orientations in the coming years.

$1,800 for short-line resistance.

Before the round rebounded, ETH had just experienced three consecutive quarters of falling prices, from $3,400 above to close to $1563 on 1 July. During the same period, the upper active address of the chain fell by approximately 46 per cent, with the market space once clearly empty.

At present, ETH has been re-positioned to a critical retreat near about $1704, but over $1,800 is still a short-line critical resistance area. If the price is effective in breaking this position, the first recovery may further magnify the increase, with the next market focus or shift to around $1850.

In terms of the distribution of derivatives, $1,800 above has brought together a larger empty clearing area, while more liquidity exists in the vicinity of $1720 to $1730. This means that once the price is back, the solidness of the support around $1750 will be the focus of short-line observations.