Ethereum (ETH) Retreats to $3,523 Despite Record July Rally – Technical Signals Mixed
The post Ethereum (ETH) Retreats to $3,523 Despite Record July Rally – Technical Signals Mixed appeared on BitcoinEthereumNews.com. Rebeca Moen Aug 02, 2025 05:39 ETH trades at $3,523 (-4.21% daily) after July’s stellar 54.83% gain. Mixed technical signals emerge as institutional inflows continue despite short-term pullback. Quick Take • ETH currently trading at $3,523.07 (-4.21% in 24h) • ETH RSI at 55.33 suggests neutral momentum with room for movement in either direction • Record $5.4 billion ETF inflows in July continue supporting long-term bullish sentiment • Ethereum support levels being tested at $3,432 after pullback from recent highs What’s Driving Ethereum Price Today? Ethereum’s current price action reflects a natural correction following an exceptional July performance. The ETH price has pulled back 4.21% in the past 24 hours, testing key support around $3,432, after closing July with a remarkable 54.83% gain – its best monthly performance in three years. The primary catalyst behind July’s surge was unprecedented institutional demand through U.S.-listed spot ETH ETFs, which recorded a 19-day net inflow streak totaling over $5.37 billion. This sustained institutional interest demonstrates growing confidence in Ethereum as a legitimate asset class among traditional investors. On-chain metrics further support this bullish narrative, with Ethereum’s daily gas usage hitting a record high of 149.67 billion in July. This spike in network utilization indicates robust developer activity and user engagement, suggesting the current ETH price levels are supported by genuine network value creation. However, regulatory headwinds emerged as the European Central Bank expressed concerns about U.S. dollar-backed stablecoins, potentially impacting the broader Ethereum ecosystem given the significant stablecoin activity on the network. ETH Technical Analysis: Mixed Signals Emerge Ethereum technical analysis reveals a complex picture as the market digests July’s massive gains. The ETH RSI currently sits at 55.33, positioned in neutral territory but closer to overbought levels, suggesting the recent pullback may be healthy…
The post Ethereum (ETH) Retreats to $3,523 Despite Record July Rally – Technical Signals Mixed appeared on BitcoinEthereumNews.com.
Rebeca Moen Aug 02, 2025 05:39 ETH trades at $3,523 (-4.21% daily) after July’s stellar 54.83% gain. Mixed technical signals emerge as institutional inflows continue despite short-term pullback. Quick Take • ETH currently trading at $3,523.07 (-4.21% in 24h) • ETH RSI at 55.33 suggests neutral momentum with room for movement in either direction • Record $5.4 billion ETF inflows in July continue supporting long-term bullish sentiment • Ethereum support levels being tested at $3,432 after pullback from recent highs What’s Driving Ethereum Price Today? Ethereum’s current price action reflects a natural correction following an exceptional July performance. The ETH price has pulled back 4.21% in the past 24 hours, testing key support around $3,432, after closing July with a remarkable 54.83% gain – its best monthly performance in three years. The primary catalyst behind July’s surge was unprecedented institutional demand through U.S.-listed spot ETH ETFs, which recorded a 19-day net inflow streak totaling over $5.37 billion. This sustained institutional interest demonstrates growing confidence in Ethereum as a legitimate asset class among traditional investors. On-chain metrics further support this bullish narrative, with Ethereum’s daily gas usage hitting a record high of 149.67 billion in July. This spike in network utilization indicates robust developer activity and user engagement, suggesting the current ETH price levels are supported by genuine network value creation. However, regulatory headwinds emerged as the European Central Bank expressed concerns about U.S. dollar-backed stablecoins, potentially impacting the broader Ethereum ecosystem given the significant stablecoin activity on the network. ETH Technical Analysis: Mixed Signals Emerge Ethereum technical analysis reveals a complex picture as the market digests July’s massive gains. The ETH RSI currently sits at 55.33, positioned in neutral territory but closer to overbought levels, suggesting the recent pullback may be healthy…
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