Ethereum Price Tracks Broader Crypto Recovery
Ethereum traded at $1,880.58 after gaining 1.57% in the last 24 hours, slightly outperforming Bitcoin’s 1.01% rise. The move came as the overall crypto market cap increased 1.07% to about $2.2 trillion, with traders shifting capital toward altcoins. However, weaker trading volume and outflows from US spot Ethereum ETFs kept the outlook cautious. ETH faces resistance near $1,920–$1,925 and support between $1,850 and $1,854.
Ethereum ETFs End Five-Day Inflow Streak
US spot Ethereum ETFs saw $70.62 million in net outflows on July 24, ending a five-day inflow streak that had attracted $211.25 million. Despite the daily outflow, weekly net inflows reached $103.9 million, extending the streak to three weeks. July inflows totaled $337.74 million, indicating sustained monthly demand. Bitcoin ETFs also recorded $240.08 million in outflows on Friday but still posted a third consecutive weekly inflow of $34 million. Market analyst Viktoras Karapetjanc noted that Ethereum continues to hold above key short-term levels, and if inflows remain steady, renewed upside momentum is possible.
Technical Analysis: ETH Tests $1,925 Resistance
Ethereum traded above its 20-hour and 50-hour moving averages but remained below the daily 200-day average near $2,147. The daily Ichimoku Kijun near $1,870 acted as immediate support. The Relative Strength Index reached 68.37, nearing overbought territory, suggesting strong buying pressure but potential for a slowdown if buyers fail to break above resistance. ETH could trade between $1,854 and $1,925 in the near term. A firm break above $1,925 with stronger volume could open the way for another upward move, while a drop below $1,854 would weaken the current structure and expose support near $1,800. Bitcoin’s stability above $64,000 remains a key trigger for Ethereum’s next move.
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