Ethereum · 2026-07-22

That day's trend: Neutral leaning bullish

That day's view: ETH closed on July 22 at $1,934 (+0.22%), with the advance narrowing materially from July 21's +1.33%, exhibiting top-side fatigue. Volume of 251,141 ETH dropped 23.2% from July 21, reflecting pronounced buy-side hesitancy. Perpetual funding eased from +0.00284% to +0.00234% (-18%), leaving leveraged long/short balance near neutral. Open Interest climbed from 2,334,142 to 2,367,560 (+1.43%) — opposite to BTC's deleveraging — with fresh long initiation. The Fear & Greed Index remained at 33 (Fear). The combination of flat price + shrinking volume + rising OI + slightly lower funding is judged as (c-mix) a hybrid consolidation where dominant players both probe longs and stay cautious; ETH/BTC ratio holds at 0.0292. Key support 1,910 / resistance 1,956. Watch EIP progress and L2 TVL flows.

Key Data

ETH close: UTC 2026-07-22 00:00 $1,930.09, UTC 2026-07-22 24:00 $1,935.09, window change +0.22%
Intraday range: High $1,956.45 / Low $1,910.68, swing $45.77 (2.37%)
24-hour total volume: 251,141 ETH (~$0.485 billion)
Perpetual funding rate: 4-period average +0.00234% (07-22 00:00 +0.00106% / 07-22 08:00 +0.00143% / 07-22 16:00 +0.00645% / 07-23 00:00 +0.00041%)
Aggressive buy/sell ratio: 24h average 1.0649, latest 1.1164
Retail long/short ratio: 24h average 1.6840, latest 1.7181
Top-trader long/short ratio: 24h average 1.3625, latest 1.3613
Open Interest (OI): 24h net +1.43%, currently 2,367,560 ETH
Perpetual basis: Stable in -0.05% to +0.05% range
Fear & Greed Index: 2026-07-22 reading 33 (Fear)

24H Price Review

Phase · Early Session (UTC 00-06): open $1,930.09 → $1,919.35, -0.56%, 6h volume 64,322 ETH.
Phase · Late Morning (UTC 06-12): open $1,919.36 → $1,927.27, +0.41%, 6h volume 58,284 ETH.
Phase · Afternoon (UTC 12-18): open $1,927.26 → $1,938.53, +0.58%, 6h volume 86,567 ETH.
Phase · Close (UTC 18-24): open $1,938.53 → $1,934.25, -0.22%, 6h volume 41,967 ETH.

Macro Calendar

🟡 2026-07-22 (Wed) · BTC July options expiry (Deribit) · Impact: Medium
🟡 2026-07-28 (Tue) · US June Durable Goods Orders · Impact: Medium
🔴 2026-07-29 (Wed) · Fed July FOMC rate decision · Impact: High
🔴 2026-07-30 (Thu) · Fed Chair Powell press conference · Impact: High

Bull vs. Bear

Phase 1 (UTC 00-06) sharp drop -0.56% + volume concentrated at 64,322 ETH | touched window low $1,910.68, classic "negative-event triggered concentrated selling" pattern
OI 24h net +1.43% with rising OI during weak price — bears actively building | OI up +33,418 ETH while price fell +0.22%, typical active short accumulation
Amplitude 2.37% — high volatility reflects fierce long/short contest | 24h amplitude 2.37% hits recent high; rising volatility = rising position risk
Phase 3 (UTC 12-18) rebound +0.58% + volume 86,567 ETH | touched window high $1,956.45, classic "post-negative-event technical rebound" pattern
Top-trader L/S 24h average 1.36 — institutions mildly bullish | top-trader L/S 24h avg 1.36 / close 1.36, institutions maintained mild bullish stance through the window
Taker buy-side close 1.1164 > 1.0 — buyers returning | close-of-window taker buying returned, showing buy-side support near $1,910.68