Points of Focus

• ETH trades at $1,910, down 0.53%, testing the psychological $1,900 level.
• Spot ETH ETFs beat BTC funds in weekly flows for a third straight week.
• The price holds above its 50-day average but stays below the 100-day EMA.

Ether (ETH) traded at $1,910 at the time of writing, down 0.53% on the session, after opening at $1,920.31 and pulling back from a high of $1,925.98 against a low of $1,882.27, per TradingView data.

The pullback lands ETH almost exactly on the $1,900 level, the same week its exchange-traded fund (ETF) demand has once again outpaced Bitcoin’s (BTC), hours ahead of the most uncertain US Federal Reserve decision of the current cycle.

ETF flows keep favoring ETH over BTC

Spot Ether ETFs pulled in $103.9 million for the week of July 20-24, roughly three times Bitcoin ETFs’ $33.79 million over the same stretch, per SoSoValue data.

That marks the third separate week in 2026 that ETH ETF inflows have beaten BTC’s, following a similar divergence in mid-July, when ETH funds took in $105.44 million against BTC’s $75.67 million, and again in April, when Ether funds recorded $187 million during a stretch that saw Bitcoin funds post a single-day outflow of $325.8 million. The pattern extended into this week: On July 27, ETH ETFs added $9.23 million, led by BlackRock’s ETHA fund, while BTC ETFs lost $11.64 million, their third straight day of outflows.

July’s cumulative totals reinforce the same split. Ether ETFs have pulled in $337.74 million so far this month, compared with $233.96 million for Bitcoin funds, even though Bitcoin’s category is larger overall.

The divergence is not just Ether strength. BlackRock’s IBIT alone saw $95.5 million in outflows the week of July 20-24, even as Grayscale’s Bitcoin Mini Trust added $85.8 million and ARKB added $78.1 million, suggesting some of the Bitcoin side is being redistributed across issuers rather than investors leaving Bitcoin exposure outright.

Technical levels to watch

Ether’s daily candle printed an open of $1,920.31, a high of $1,925.98, a low of $1,882.27, and a close of $1,910.11, per TradingView’s technicals panel.

The moving average (MA) stack favors the short-term trend. The 10-day exponential moving average (EMA) sits at $1,897.09 and 10-day simple moving average (SMA) at $1,904.88, the 20-day EMA at $1,866.43 and 20-day SMA at $1,872.68, the 30-day EMA at $1,845.22 and 30-day SMA at $1,823.39, and the 50-day EMA at $1,844.00 and 50 day SMA at $1,763.38, all eight readings are upward signals. The 100-day EMA at $1,931.70 and 100-day SMA at $1,949.19, along with the 200-day EMA at $2,174.61 and 200-day SMA at $2,122.32, all sit above the current price as downward signals, along with the Hull MA at $1,919.27.

Oscillators lean mixed rather than confirming the pullback outright.

• The relative strength index (RSI) reads 56.97, and the average directional index (ADX) reads 23.92, both neutral, suggesting no strong trend has taken hold in either direction yet.
• The moving average convergence/divergence (MACD) level reads 39.57, and momentum reads 39.11, both of which are downward signals.
• Bull bear power is the exception at 31.73, an upward signal, one of the only readings actually confirming near-term strength rather than sitting neutral alongside Stochastic %K at 62.55, the commodity channel index at 62.32, Stochastic RSI fast at 20.45, Williams percent range at negative 38.18, and the ultimate oscillator at 51.47.

Support sits at the 50-day EMA near $1,844, with the session low of $1,882.27 as the more immediate floor and the 30-day EMA at $1,845.22 as a secondary level just beneath it. Resistance sits at the 100-day EMA and the Hull MA cluster between $1,919 and $1,932; the zone price needs to clear before testing the 200-day EMA near $2,175 and the 200-day SMA near $2,122.

A close below $1,844 would put the short-term uptrend on the defensive for the first time in several weeks.

What comes next

Both signals now converge on the same test. ETH’s ETF demand edge over Bitcoin and its short-term technical base above the 50-day average are holding into a Federal Reserve decision due today at 2:00 pm ET, with hike odds as high as 29.4% on CME FedWatch and 21.1% on Polymarket, both the highest readings of Chair Kevin Warsh’s tenure so far in his second meeting leading the committee.

A hawkish hold or surprise hike would test whether ETH’s newer, ETF-driven demand holds up better than Bitcoin’s under real macro pressure or whether both categories see the kind of reversal that hit Bitcoin funds on July 23 and 24, when they lost $225 million and $240 million, respectively, in single sessions.

The $1,900 level itself matters less than what happens to it in the next few sessions. A hold above the 50-day EMA near $1,844 through the Fed decision would keep the flow divergence and the technical setup pointing in the same direction, reinforcing the case that ETH’s demand edge is structural rather than a temporary rotation. A break below it would suggest the ETF demand pattern of the past three weeks was leaning on calm macro conditions that no longer hold and that the flows themselves could reverse as quickly as Bitcoin’s did in late July.