TLDR:
- Ethereum price retreated toward $1,880 after sellers blocked its recovery below the psychological $2,000 resistance level.
- The $1,850 support zone now protects Ethereum’s ascending channel and could determine whether the recent rebound stays intact.
- Spot Ethereum ETFs recorded $26.3 million in daily inflows, extending their positive flow streak to five trading sessions.
- Rising open interest and negative funding rates increase liquidation risks as traders build leveraged positions near key price levels.
Ethereum price fell toward $1,880 on July 24 after failing to break the psychological $2,000 resistance level. The decline erased part of the recovery that started near $1,560 in late June.
Ether traded near $1,882 at press time, down about 3% over 24 hours. Sellers emerged after ETH reached the $1,935 to $1,950 region earlier this week.
The broader technology-stock sell-off also weakened risk appetite. Major U.S. technology companies lost nearly $797 billion in market value during Thursday’s session.
Bitcoin declined less than 1% and traded near $65,400. Ether’s sharper drop showed that investors continued reducing exposure to higher-risk altcoins.
Ethereum Price Faces Pressure From Leverage and Tech Losses
The Ethereum price weakened as Wall Street investors questioned growing artificial-intelligence spending. Alphabet raised its 2026 capital expenditure forecast to as much as $205 billion.
Weaker Tesla earnings also added pressure to technology stocks. The Nasdaq 100 dropped 1.9%, while the S&P 500 declined 1.2%.
Crypto derivatives showed that traders increased exposure before the rejection. Ethereum open interest rose by 600,000 ETH within two days.
Total open interest reached 14.6 million ETH, its highest level since June 7. Rising leverage increased the risk of forced liquidations during sharp price moves.
Funding rates briefly turned negative on Thursday for the first time since June 29. Around $41.55 million in leveraged positions faced liquidation over 24 hours.
Long traders accounted for about $34.4 million of that total. The figures showed that bullish positions absorbed most of the damage during the pullback.
Spot Ethereum ETFs still recorded $26.3 million in net inflows on July 23. The result extended their positive streak to five consecutive trading sessions.
Fidelity’s FETH received $14.9 million, while BlackRock’s ETHA attracted $8.5 million. Grayscale’s mini-Ether fund added another $2.9 million.
The daily total fell from earlier weekly inflows of $38 million, $37.5 million, and $72.7 million. ETF demand therefore failed to offset selling across spot markets.
Ethereum Price Must Hold $1,850 to Protect Recovery
Ethereum technical analysis places ETH near the lower boundary of an ascending channel. That structure has guided the recovery since early July.
Immediate ETH support sits between $1,850 and $1,880. Holding this area could allow buyers to target $1,910 before challenging the $1,950 supply zone.
Crypto analyst Ali Martinez says the channel remains valid while Ethereum holds $1,850. The upper boundary could reach approximately $2,060 during another rebound.
Momentum indicators still favour, sellers in the short term. The four-hour relative strength index dropped to 44.06, below its moving average of 52.62.
The MACD line also fell below its signal line. Its negative histogram showed that bearish momentum continued during the latest session.
The Ethereum price remains above the forward Ichimoku cloud boundary near $1,816 on the daily chart. Chaikin Money Flow stayed positive at 0.07, suggesting capital has not fully left the market.
Liquidation data shows significant leveraged positions near $1,900 and $1,910. Another large liquidity cluster sits between $1,955 and $1,965.
A break above those levels could force short liquidations and reopen the route toward $2,000. Buyers must first reclaim $1,910 with stronger spot volume.
Downside liquidity has formed between $1,840 and $1,850, followed by another cluster near $1,820. A four-hour close below $1,850 could expose $1,816.
Further selling could then push ETH toward the $1,750 to $1,730 region. Continued equity weakness or higher bond yields could increase pressure around those lower levels.
