Ethereum

ETH is trading below its realized price on-chain and ETF flows just turned negative after a 5-day inflow streak, signalling that the July recovery is losing momentum exactly as options markets price in an August pullback risk toward $60K for BTC — ETH cannot sustain a rally without BTC leadership.

ETH is holding above the key $1,830 realized-price support and the ascending trendline from the June correction lows, but has stalled below the $1,950 Fibonacci 38.2% retracement of the August 2025 high-to-2026 low move, leaving directional conviction low into August.

Main Risk

Ethereum Spot ETF Outflow Reversal

After a 5-day inflow streak, Ethereum ETFs ended July in net outflows, removing the primary institutional demand catalyst that drove ETH from ~$1,700 to above $1,900 resistance in mid-July.