Ethereum (ETH) has been trading around $1,865 At press time, it is consolidating after recovering sharply from June lows. The asset continued to build higher highs and higher lows throughout July, keeping traders focused on whether they could reclaim the key. $2000 level.
Supporting this recovery, US Ethereum ETFs recorded a second straight week of net inflows, indicating renewed institutional demand after several weeks of sustained outflows.
Ethereum ETFs record inflows for the second week in a row
Ethereum ETFs Attracted $105.44 million In net inflows during the ending week July 17the next $84.42 million The previous week.
The successive inflows represented a notable turnaround after five straight weeks of net outflows between mid-May and late June.
At the same time, cumulative net flows rose to $11.08 billionWhile the total assets of ETFs amounted to $9.97 billionleaving the sector shy of 10 billion dollars turn.
Black Rock Itha It remained the largest contributor to institutional demand. Register the fund $31.68 million In daily flows on July 17 And I succeeded $5.22 billion In net assets, accounting for more than half of the US spot Ethereum ETF market.
Fidelity FETH added another $5.05 millionWhile the remaining funds recorded little or no net inflows during the session.
ETH is building momentum, but $2K is still the hurdle
the Weekly chart Show Ethereum continuing to recover from its June decline, with buyers successfully recovering the $1800 region.
However, the broader trend has not yet turned completely to the upside. The weekly RSI remains present 40Suggesting momentum has improved from oversold conditions but remains below neutral territory 50 level.
on Daily time frameThe picture seemed more constructive.
ETH’s Relative Strength Index rose to approx 58This reflects the strength of buying momentum without entering the overbought zone.
Price action also continued to form higher highs and higher lows throughout July, indicating that buyers have gradually regained control after June’s sell-off.
Can Ethereum Reclaim $2,000?
The immediate challenge remains $1900 Resistance zone.
A decisive break above this level may open the way towards the psychological aspect $2000 The mark, which also represents a key area from the previous view.
On the downside, it’s reclaimed $1800 The level now serves as the first important support. Staying above this level would reinforce Ethereum’s improving structure in the short term.
Meanwhile, he declined below $1900 This could lead to another period of consolidation before buyers attempt another breakout.
With institutional flows returning and technical momentum strengthening, Ethereum’s recovery appears to be gaining momentum. Whether that translates to a step above $2000 It will likely depend on buyers continuing to exert pressure over the coming sessions.
Final summary
- Ethereum ETFs recorded their second straight week of net inflows, adding $105.44 million as total ETF assets approached $10 billion.
- ETH continues to build a technical structure above $1,800, but a sustained move above $1,900 remains necessary before the bulls can target $2,000.
