ETH drops 0.55% in 15 minutes: A short-term pullback triggered by sell pressure at the TBO resistance level and an imbalance in order book depth

From 07:15 to 07:30 UTC on July 24, 2026, ETH quickly dropped within 15 minutes, posting a return of -0.55%. The price range was 1896.66–1908.36 USDT, with an Ampl of 0.61%. Overall volatility stayed limited, but clear short-term selling pressure emerged.

The main driver behind this move was that price approached the TBO technical resistance level, then met concentrated sell pressure. Meanwhile, the order book showed a clear sell-side advantage, resulting in short-term suppression. The buy/sell depth ratio was only 0.47 (<0.67). Total sell orders were 6.43 ETH, far exceeding buy orders at 2.99 ETH. In addition, a large sell wall was detected at $1898.33, with maker order volume reaching 3.95 ETH—accounting for 61.4% of the total volume across the top 5 levels—effectively blocking upside room.

Moreover, bearish technical signals intensified the downside pressure. On the 1-hour timeframe, ADX hit 56.92, the highest across all periods, indicating strong short-term downward momentum. ETH dominance is in an overbought zone, while BTC dominance shows a long signal, suggesting capital may rotate from ETH into BTC, with market share potentially tilting toward BTC. At the community level, although mega whales such as Arthur Hayes showed buying activity, overall attribution confidence remains low—every news relevance score was below 0.15, with no high-confidence event catalyst. This volatility therefore appears to be more of a technical correction.

Current key support sits at $1859.89 (24h low), while resistance is at $1898.33 (sell wall) and $1931.54 (24h high). If $1860 breaks, it could trigger further technical sell pressure. Watch for the risk of trend continuation as long as ADX remains elevated on the 1-hour timeframe.