$ETH Ethereum (ETH) enters early July trading near $1,757, showing early signs of a rebound after suffering three consecutive quarterly losses. The cryptocurrency recently tested multi-month lows under the weight of a hawkish macroeconomic environment and heavy spot ETF outflows, which totaled roughly $529 million throughout June. Despite these headwinds, improving risk sentiment has helped ETH hold its ground and begin a cautious recovery.
Technical Analysis
On the daily chart, ETH maintains a capped tone as it navigates dense overhead supply.
Key Moving Averages: Ethereum is currently holding above its 20-day Exponential Moving Average (EMA) near $1,676. However, it faces immediate and significant resistance at the 50-day EMA, positioned between $1,808 and $1,810.
Bullish Indicators: Downside momentum appears to be losing strength. The MACD histogram has turned positive on the daily chart, and positive divergences are forming on the daily Relative Strength Index (RSI), indicating that a deeper reversal may be in play.
Support and Resistance: A decisive daily close above the $1,810 resistance level is required to open the path toward the 100-day EMA near $1,984. On the downside, if ETH fails to maintain its current momentum, initial support rests at $1,524, with a deeper structural floor located around $1,405.
On-Chain & Network Fundamentals
Diverging Network Usage: On-chain data presents a mixed signal for July. Active addresses on the network have dropped by roughly 46% since peaking in February 2026, pointing to weakening retail engagement.
Whale Accumulation: Conversely, addresses holding between 1,000 and 10,000 ETH experienced a massive spike in the final days of June. This suggests that large entities and "whales" have been quietly accumulating tokens at lower price points.
Ecosystem Expansion: Developers continue to push Ethereum's utility into new sectors.
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#GillibrandCallsForDigitalAssetEthicsBan
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Technical Analysis
On the daily chart, ETH maintains a capped tone as it navigates dense overhead supply.
Key Moving Averages: Ethereum is currently holding above its 20-day Exponential Moving Average (EMA) near $1,676. However, it faces immediate and significant resistance at the 50-day EMA, positioned between $1,808 and $1,810.
Bullish Indicators: Downside momentum appears to be losing strength. The MACD histogram has turned positive on the daily chart, and positive divergences are forming on the daily Relative Strength Index (RSI), indicating that a deeper reversal may be in play.
Support and Resistance: A decisive daily close above the $1,810 resistance level is required to open the path toward the 100-day EMA near $1,984. On the downside, if ETH fails to maintain its current momentum, initial support rests at $1,524, with a deeper structural floor located around $1,405.
On-Chain & Network Fundamentals
Diverging Network Usage: On-chain data presents a mixed signal for July. Active addresses on the network have dropped by roughly 46% since peaking in February 2026, pointing to weakening retail engagement.
Whale Accumulation: Conversely, addresses holding between 1,000 and 10,000 ETH experienced a massive spike in the final days of June. This suggests that large entities and "whales" have been quietly accumulating tokens at lower price points.
Ecosystem Expansion: Developers continue to push Ethereum's utility into new sectors.
#MoonbeamToMigrateGLMRToBase
COMEXGoldSettlesUp1.49%At$4187.3
#GillibrandCallsForDigitalAssetEthicsBan
#RevolutToDelistUSDT
#NHHB639ProtectsDigitalAssetSelfCustody