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Ether (ETH) traded at $1,750.22 on the daily chart, down 1.11% on the day, according to TradingView data. The candle opened at $1,769.84, reached a high of $1,783.18, and fell to a low of $1,741.18 as ETH pulled back after testing the $1,800 zone, which has capped price on repeated attempts since June.
That resistance test lines up with two onchain signals pointing in opposite directions this week. Spot ETH exchange-traded funds (ETFs) posted a $47.59-million weekly net inflow for the week of July 7 so far, per SoSoValue data, ending eight straight weeks of outflows that had pulled the cohort’s cumulative net inflow down from $11.83 billion on May 15 to $10.89 billion by July 2.
That losing streak included a $273.34-million single-week outflow on June 26, the sharpest weekly redemption of the stretch. Total net assets climbed to $9.53 billion for the week of July 7, and trading volume reached $915.17 million even as it traded on far fewer dollars than the $2.1 billion-$4.27 billion weekly volumes seen through May and June, suggesting the inflow reflects concentrated buying rather than broad turnover.
Santiment Intelligence flagged a specific accumulation pattern on X this week: Wallets holding less than 0.01 ETH increased their share of supply held by 1.82% over the past month, while wallets holding 100-100,000 ETH, the account’s defined key stakeholder tier, increased their share by 1.73% over the same window.
✍️ TL;DR: Ethereum back over $1,800 on key stakeholder & retail distribution
📊 Metrics Used: Supply Distribution
🔗 Live chart of top asset supply distributions: https://t.co/H0QqO6RMGB📈 Ethereum’s rebound back over $1,800 is getting support from both sides of the holder… pic.twitter.com/7PvwSWfwFp
— Santiment Intelligence (@SantimentData) July 7, 2026
Both cohorts gaining share at once implies the ETH being sold is concentrated in the middle of the holder spectrum, swing traders, exchange liquidity providers, and less committed holders, rather than at either extreme.
That accumulation is not without a counterweight. Analyst Joao Wedson of Alphractal warned on X on July 7 that unliquidated long positions now dominate positioning across ETH, Bitcoin (BTC), XRP (XRP), and Solana (SOL) after a rally he characterized as lacking genuine spot conviction, arguing a modest pullback could trigger a chain reaction of forced liquidations across both derivatives and spot markets.
Once again, unliquidated Long positions are dominating BTC, ETH, XRP, and SOL.
The market has moved up very weakly over the past few days, and the current moment deserves a bit more attention.
Any slip in the next few hours could allow bears to take control, triggering a new… pic.twitter.com/PsDowAswSY
— Joao Wedson (@joao_wedson) July 7, 2026
Separately, analyst Ali Charts pointed to the 0.8 MVRV Pricing Band near $1,796 as the key technical trigger this week, coinciding closely with the 50-day exponential moving average (EMA) on the TradingView chart.
ETHEREUM BULLISH TRIGGER: $1,800
Ethereum is currently testing the 0.8 MVRV Pricing Band at $1,796 as resistance.
A daily close above this level, followed by a successful hold as support, would strengthen the bullish case and could open the door for a move toward Ethereum’s… pic.twitter.com/Ya7YyEHGjB
— Ali Charts (@alicharts) July 6, 2026
The daily ETH/USD chart and technical data from TradingView show the price sitting above the shorter-dated moving average (MA) stack and below the medium- and longer-dated MA stack. The 10-day EMA at $1,728.64, 10-day simple moving average (SMA) at $1,712.35, 20-day EMA at $1,713.43, and 30-day EMA at $1,733.89 all sit below the current price and show an upward signal.
The 50-day EMA at $1,801.96 and the Hull MA at $1,803.78 sit just above the current price, both signaling a downward trend and forming the immediate resistance cluster that lends this week’s $1,800 test its technical weight. The 50-day SMA at $1,787.45 sits between the current price and that cluster.
The relative strength index (RSI) reads 52.89, just above the neutral 50 line.
The stochastic %K reads 82.14, in overbought territory even as its action reads neutral.
The average directional index (ADX) reads 25.45, indicating a moderate trend rather than a strongly directional move.
The moving average convergence divergence (MACD) at negative 2.06 shows an upward signal as it narrows toward the zero line, while Bull Bear Power at 87.57 shows a downward signal.
Immediate support sits at the day’s low of $1,741.18, with the 20-day SMA at $1,678.61 and the Ichimoku Base Line at $1,679.13 the next cluster below.
Resistance sits at the day’s high of $1,783.18, followed by the 50-day EMA and Hull MA cluster at $1,802 to $1,804. A close above that cluster would be the first close above the 50-day EMA since ETH’s June selloff, while a close below $1,741.18 risks a retest of the $1,680 zone.
The setup leaves ETH caught between two data points that rarely move together this cleanly: an ETF cohort that just broke an eight-week losing streak and onchain wallets at both ends of the size spectrum adding to their positions during the same window.
Whether that combination holds depends on next week’s ETF prints confirming the reversal rather than reflecting a single strong week and on whether the leveraged long positioning Alphractal flagged unwinds calmly into the $1,800 resistance test or forces a sharper move first.
The resistance cluster itself is well defined: the 50-day EMA, the Hull MA, and Ali Charts’ MVRV-based trigger all sit within a few dollars of $1,800, giving bulls a single level to watch rather than a wide band.
Sell-side forecasts remain unusually split on the outcome further out. Citi’s most recent research note projects $2,240 over the next 12 months, while Standard Chartered’s most recent note holds a $4,000 year-end 2026 target and a $40,000 target by 2030. That spread, between two banks looking at the same onchain and flow data, is wide enough that neither side of the trade lacks institutional backing, and it underscores how much near-term technical levels like this week’s $1,800 test are being asked to settle a much larger disagreement about ETH’s trajectory.
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