Ethereum has made a significant comeback, trading near $1,715 on July 3, following a robust increase of more than 6% within just 24 hours. This surge marks a critical rebound for ETH, which has faced considerable selling pressure in recent weeks.
The recent uptick is bolstered by renewed interest in U.S. spot Ethereum Exchange-Traded Funds (ETFs), which recorded total net inflows of $29.08 million on July 2. Notably, BlackRock’s ETHA led the charge with inflows of $29.74 million, while Grayscale’s ETHE experienced a slight outflow of $2.75 million.
Analyst Daan Crypto Trades commented on the developing situation, highlighting that ETH’s price has climbed by 10% over the week and is currently retesting a crucial point of resistance around $1,750. He described this level as pivotal, suggesting that reclaiming it could indicate a shift towards strength. This area previously marked a significant market structure break in 2025, making it historically relevant.
In addition to the price movements, Ethereum printed a rare monthly TD Sequential buy signal. Analyst Ali Charts noted that this indicator suggests potential exhaustion among sellers on a higher timeframe. Historical patterns reveal that previous monthly buy signals have preceded impressive rallies, with gains of 235% in 2022 and 182% in 2025. While the signal does not definitively confirm a new bull trend, it has certainly captured the attention of technical traders.
The technical indicators present a mixed picture. The MACD histogram has turned positive at 19.33, with the MACD line crossing above the signal line, yet both remain below zero, indicating that a full trend reversal has not yet occurred. The Relative Strength Index (RSI) has improved to approximately 51.85, surpassing its moving average of 38.12 and the neutral level of 50.
Ethereum’s recovery from a double-bottom pattern near $1,565 has set its sights on further resistance at $1,800, with a potential breakout target of $2,000. A liquidity cluster situated around $1,740–$1,750 could also provide a catalyst for upward movement in the short term.
Interestingly, ETH has recently recorded its first-ever three consecutive negative quarters since its inception—a rare occurrence in the cryptocurrency’s market history. Analyst Crypto Patel highlighted this unusual trend, suggesting it marks a significant chapter in Ethereum’s ongoing journey.
On the on-chain and derivatives front, open interest has surged by 10.64% to reach $24.54 billion, while trading volume increased by 14.48% to $44.74 billion. Funding rates also saw a substantial rise of 113.86%, indicating that leveraged long positions have expanded during this rally.
Furthermore, Binance witnessed a spike in ETH withdrawal transactions, reaching a three-year high with over 166,000 transactions in a single day. Despite this, netflow on the exchange remains positive, indicating that more ETH has entered than exited, suggesting a nuanced market sentiment.
Institutional participation continues to grow, with BitMine accumulating over 5.7 million ETH after adding 27,084 ETH. Additionally, SharpLink purchased 10,000 ETH for $16.1 million during the recent market dip, reflecting ongoing confidence in Ethereum’s long-term prospects.
