Points of Focus

• ETH fell to $1,858.70, down 1.31%, breaking below its 10- and 20-day averages.
• Weekly ETH ETF inflows slowed to $27.42 million, down for a second straight week.
• Price still holds above its 30-day and 50-day moving averages near $1,850.

Ether (ETH) trades at $1,858.70 at the time of writing, down 1.31% on the session, after opening at $1,883.41 and falling from a high of $1,883.83 to a low of $1,849.65, per TradingView data. 

The drop below $1.9K landed the same week ETF demand for ETH cooled sharply.

ETF demand decelerates for a second straight week

Spot ETH ETFs took in $27.42 million for the week of July 31, a sharp slowdown from $103.90 million the week before, $105.44 million the week of July 17, and $84.42 million the week of July 10, per SoSoValue data.

Four straight weeks of positive flows is still an intact streak, but the size of each week has now fallen for two consecutive weeks, from a peak near $105 million down to roughly a quarter of that. Cumulative net inflow into the ETH ETF complex stands at $11.21 billion.

That deceleration lands alongside a specific technical shift, not just a generic pullback. Price broke below both its 10-day and 20-day moving averages this session, EMA and SMA versions of both, while still holding above its 30-day and 50-day averages. 

A slowing institutional bid arriving the same session the short-term trend structure breaks is a more specific claim than either fact alone, and worth treating as one story rather than two coincidental updates.

Technical levels to watch

Ether’s daily candle printed an open of $1,883.41, a high of $1,883.83, a low of $1,849.65, and a close of $1,858.70, per TradingView’s technicals panel.

The moving average (MA) stack is now split by timeframe in a way it was not in recent sessions. 

The 10-day EMA at $1,879.26 and SMA at $1,890.71, along with the 20-day EMA at $1,867.98 and SMA at $1,888.05, all read downward signals, with price having broken below all four this session. 

The 30-day EMA at $1,852.50 and SMA at $1,855.04, and the 50-day EMA at $1,848.95 and SMA at $1,783.33, still read upward signals. The 100-day EMA at $1,925.98, 100-day SMA at $1,926.09, 200-day EMA at $2,159.84, and 200-day SMA at $2,088.10 all sit further above the current price as downward signals, alongside the Hull MA at $1,849.82, an upward signal.

Oscillators stay mostly neutral. 

• The relative strength index (RSI) reads 50.24, and the average directional index (ADX) reads 20.15, both neutral. 
• Momentum (10) reads negative 1.83, and the moving average convergence divergence (MACD) level reads 21.08, both downward signals. 
• Bull bear power reads negative 22.95, an upward signal, an unusual combination worth noting rather than smoothing over.

Support sits at the 30-day EMA near $1,853 and the 50-day EMA near $1,849, with the session low of $1,849.65 sitting almost exactly on that cluster, a level that has held through the entire technical shift so far. Resistance sits at the broken 20-day SMA near $1,888 and the 10-day EMA near $1,879; the zone price needs to reclaim to undo this session’s breakdown.

What comes next

The level worth tracking is not $1,900 itself but the $1,849 to $1,853 cluster where the 30-day and 50-day averages now sit almost on top of the session low. A close below that zone would put the medium-term trend on the defensive for the first time in weeks, the same trend that has held even as ETF demand slows. 

Whether next week’s ETF flow data confirms the deceleration or bounces back toward the $80 million to $100 million range seen earlier in July is the more useful test than reading this single session in isolation.