ETH down 0.95% within 1 hour: Robinhood Chain remains bullish, but selling pressure emerges

Between 03:00 and 04:00 (UTC) on July 13, 2026, ETH traded in the $1,785.0 - $1,806.92 USDT range, with an amplitude of 1.21% and ended the period down 0.95%. Despite a short-term pullback, ETH 24h still holds a 2.55% gain, rebounding from around $1,779.93 to the $1,832 area as market attention warmed with the price bounce.

The main driver behind this move is ongoing bullish momentum from the fundamental positive news that Robinhood Chain adopted ETH as its native Gas token. Fundstrat managing partner Tom Lee publicly said that this choice further solidifies ETH’s position as “on-chain money,” strengthening market confidence in the long-term demand logic for ETH. Meanwhile, a major exchange triggered the liquidation of short positions at $1,824 ($213.5K); the short-covering buy pressure from the stop-loss mechanism, together with the fundamental tailwind, converged to push prices higher during the day.

However, this rally lacks a single high-confidence catalyst event. Tavily-related news relevance is below 0.3, and the attribution relies more on community narrative and technical rebound. In addition, the order book depth is seriously imbalanced: the bid-to-ask depth ratio is only 0.32 (< 0.67), with sell-side liquidity clearly dominant. There is a sell wall of 4.18 ETH at $1,831.66, accounting for 43.2% of the total volume among the top 5 levels, which may limit upside in the short term in the $1,832-$1,840 region. On-chain active addresses have fallen to about 420,000, down roughly 46% from earlier, and weakening on-chain participation also adds to near-term concerns. On the technical side, RSI is in a neutral band of 52-56. Daily and hourly MA show bullish signals, but ADX is low (16.6-30.6), indicating insufficient trend strength.

ETH is currently facing a key test at the $1,840 resistance level. If trading volume cannot support a breakout, investors should watch for the risk of a pullback on declining volume. Key support levels to monitor are the $1,800 psychological mark and $1,718 (20-day EMA). Going forward, focus should be on the official rollout progress of Robinhood Chain, the ETH ETF fund flows, and whether on-chain active addresses can stop falling and rebound. Short-term volatility risk remains, so it’s advisable to monitor volume performance around key support and resistance levels.