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Ethereum Price Analysis: Can ETH Continue its Run as Major Resistance Levels Approach?

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Ethereum has experienced a strong upward rally over the past two weeks, pushing from the $1,500s to above $2,600. However, signs of exhaustion are beginning to surface. While higher timeframes remain bullish for now, short-term caution is warranted.

Technical Analysis

By ShayanMarkets

The Daily Chart

ETH has hit a technical ceiling just under the $2,900 resistance, which aligns closely with the 200-day moving average. This zone previously acted as a major breakdown point in February and is now serving as a supply area. The RSI also recently entered overbought territory, suggesting that momentum is fading as price approaches this resistance.

A rejection from here could lead to a pullback toward the $2,200 support zone and the 100-day MA located near the $2,100 mark. A confirmed breakout above $2,900 would shift the bias back to bullish, with a potential continuation toward the critical $4,000 zone.

The 4-Hour Chart

Dropping lower on the 4-hour timeframe, Ethereum is showing signs of weakening momentum. After the explosive move above $2,100, the price has been consolidating within a narrow range near the $2,500–$2,600 region.

A clear bearish divergence is now confirmed on the RSI, with price making higher highs while RSI makes lower highs. This typically indicates a potential correction ahead. If ETH loses the $2,450 support, a retracement toward $2,200 and even $2,050 becomes likely. On the flip side, reclaiming $2,600 with strong volume could invalidate the bearish signals and open the path for a run at the $3,000 area.

Sentiment Analysis

The recent rally triggered a sharp wave of short liquidations, which helped fuel the aggressive price surge. As seen in the short liquidation chart, the largest liquidations occurred near $2,400–$2,600, signaling a large portion of sellers were forced out of the market. This typically leads to short-term cooling, as the “fuel” for the rally gets exhausted.

The liquidation chart shows a clear uptick in forced closures over the past week, aligning with Ethereum’s breakout. These spikes often mark local tops, as the removal of excessive short exposure removes the momentum driver. With liquidations now tapering off, the price may struggle to push higher without fresh demand entering the market. This context reinforces the idea that ETH could consolidate or correct before any meaningful continuation.

 

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

Cryptocurrency

BlackRock’s ETH ETF Could Soon Offer Staking—SEC Filing Moves Forward

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The US Securities and Exchange Commission has acknowledged BlackRock’s filing about allowing investors in its flagship Ethereum ETF to stake their assets.

Although this development doesn’t guarantee an official approval of the filing, it’s still a big step in the right direction.

The “acknowledged” part means that the securities watchdog has confirmed that it has received certain amendments made by the ETF issuer. Typically, the SEC also opens a public comment period, allowing stakeholders to weigh in on the matter.

BlackRock and Nasdaq submitted a 19b-4 rule change proposal that aims to allow investors using the iShares Ethereum Trust (ETHA) to stake ETH with staking rewards treated as income to the fund.

ETHA is by far the largest Ethereum ETF, and it became the third-fastest to reach a $10 billion AUM milestone within less than a year after its launch.

It continues to attract substantial net inflows. The last day in the red was on July 2, with $46.9 million leaving the fund. Since then, it has been on a massive roll, attracting nearly $4 billion in net inflows in less than a month.

The underlying asset’s price has benefited substantially from these enormous inflows, having surged by over 50% in the past month alone. Moreover, ETH is up by more than 150% since its bottom in early April and is close to knocking on the $4,000 door now.

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Ripple Price Reversal Incoming as Investors Pull XRP Off Exchanges?

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TL;DR

  • XRP whales move over 80M tokens off exchanges, signaling long-term holding behavior.
  • $845M in single-day losses follows co-founder’s $140M sell-off amid price pressure.
  • RSI cools from an overbought zone, indicating that XRP may be stabilizing after the recent price drop.

Exchange Supply Drops Sharply

Between July 23 and July 26, the amount of XRP held on centralized exchanges dropped from around 4.45 billion to just over 4.25 billion, based on Glassnode data. This change suggests large holders may be moving their funds into cold storage rather than keeping them liquid.

According to Captain Redbeard, the shift shows users are not preparing to sell. Instead, they appear to be withdrawing assets, possibly to hold through current market conditions.

XRP was priced at $3.15 at press time, down 3% in the past 24 hours and nearly 9% over the last week. The asset has slipped steadily since reaching a new all-time high at $3.65 on July 18. Despite this, wallet outflows have continued. The behavior suggests many holders are not rushing to exit positions.

Analyst Ali Martinez said that losing the $3.15 level could open the door to a test of $3. He added that such a move “could present a solid buy-the-dip opportunity.” That level now acts as the nearest key support zone.

Selling Spikes After Insider Move

On-chain data shows roughly $845 million in realized losses over the past day, one of the most significant single-day sell-offs this month. This followed reports that a Ripple co-founder sold $140 million worth of XRP. The move added pressure to an already declining market.

glassnode-studio_xrp-net-realized-profit-loss
Source: Glassnode

While some investors are taking profits, trading volume remains strong at $6.2 billion. XRP continues to trade well below its all-time high, and recent activity shows a cautious mood.

Momentum Builds Underneath

The BBTrend value now sits at 27.66, pointing to a shift in short-term momentum. The recent expansion in green bars indicates renewed buying interest.

XRP price chart
Source: TradingView

Meanwhile, the Relative Strength Index (RSI) has declined to 59 against the recent peak of 72. This shift indicates that the asset is no longer overbought, and it could now stabilize.

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Dormant XRP Wallets Spring to Life – What Does This Mean for Ripple’s Price?

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After hitting an all-time high of $3.65 in mid-July, XRP has entered a phase of consolidation. The token is gradually retracing to hover around the $3.15 mark. Despite multiple attempts to break higher, XRP has faced resistance near $3.3.

This price action reflects a cooling-off period following the sharp rally from early July, when it surged from around $2.2. Interestingly, older XRP wallets are on the move again, which could impact the asset’s future price trajectory.

Old Coins Return to Circulation

XRP is still up by almost 46% over the past month while holding slightly shaky at the $3.15 support level. According to Santiment’s latest data, one important on-chain signal is the reactivation of dormant coins, which suggests renewed investor interest and participation from long-term holders.

The average age of XRP investments has dropped by 91 days and is now standing at 593 days. This means that a wave of older wallets is moving assets back into circulation. Historically, such behavior has often preceded or accompanied bullish price action, lending further weight to the current market momentum.

However, crypto analyst Ali Martinez warned that if XRP fails to hold the crucial $3.15 support level, the crypto asset could retrace to the $3 mark. While this potential dip may concern short-term traders, Martinez said it could offer a compelling buy-the-dip opportunity for investors anticipating a rebound, especially given XRP’s strong performance and recent on-chain activity.

While traders eye short-term price action, major players are taking a longer-term view – especially through large-scale XRP allocations.

XRP Gains Institutional Traction

In what appears to be a growing corporate confidence in XRP as a strategic asset, Hyperscale Data has officially launched its $10 million XRP treasury program. The company plans to provide weekly updates starting August 12, in a bid to boost transparency and investor trust.

With a possible 36-month lockup under consideration, Hyperscale’s move indicates a long-term commitment rather than short-term speculation. The latest development comes on the heels of Nature’s Miracle’s $20 million XRP plan.

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