Ethereum price aims to break above $1,700 as ETF inflows return

Ethereum traded near $1,615 on July 2 as buyers sought to stabilize the market after weeks of pressure.

$ETH remains near the lower end of its recent range, but new ETF inflows and increased staking activity add another data point for traders watching for an attempted recovery.

According to price data from crypto.news, the token rose 2.49% in 24 hours, with a daily price range between $1,564.82 and $1,637.22. Ethereum has a market capitalization of nearly $194.87 billion, with a 24-hour trading volume of approximately $10.81 billion.

According to SoSoValue, the Spot Ethereum ETF recorded net inflows of $14.895 million on July 1, while BlackRock’s ETHA recorded the largest single-day inflow at $36.639 million. This shift comes after a period weighed down by ETF outflows. $ETH Demand increased and traders remained focused on the $1,500 support area.

Ethereum price remains near the lower limit

Ethereum’s near-term setup remains cautious. The recent price trend has been almost flat near the low price range. $ETH I have approximately $1,580 to $1,650. The market still needs to move beyond the $1,700-$1,800 area to show stronger recovery momentum.

Recently, Ethereum remained pinned around the $1,500 support zone following end-of-quarter selling, whale distribution, and weak institutional flows. According to the report, analysts are eyeing $1,700 as a key recovery level, but a $1,500 loss could lead to further declines.

Although the technical situation shows early improvement, the trend has not completely reversed. The MACD histogram is positive around 7.60, but the MACD line is around -66.92, above the signal line around -74.52. This indicates a bullish crossover and bearish momentum weakness, but both lines are still below zero.

The RSI is hovering around 40.46, above the moving average of around 36.50. This shows some momentum is regaining, but the reading is still below 50. Buyers need stronger RSI value action and a price recovery between $1,700 and $1,800 before the setup becomes more constructive.

After weeks of pressure, inflows into ETFs return

ETF flows remain central $ETHshort-term outlook. Previously, the pressure came from repeated outflows across U.S. Spot Ethereum ETFs. Crypto.news previously reported that the fund had net outflows of $273 million in the week ending June 26, with BlackRock’s ETHA accounting for $236 million of the withdrawals.

While the recent positive daily flows are providing some relief to the bulls, the daily inflows do not eliminate the broader weakness. Demand for ETFs is important because when flows are positive, these products can create spot buying pressure. If flows reverse, the fund manager may need to redeem the underlying assets. $ETHadd supply to the market.

Ethereum’s ETF market is smaller than Bitcoin’s, which is why Ethereum underperformed during this period. Ethereum ETF outflows have been relatively more painful. $ETH The ETF complex is much smaller than the Bitcoin ETF market.

Therefore, inflows on July 1st are important for sentiment. The fact that the inflow continues to be stable means that $ETH $1,700 for retesting. If inflows weaken again, traders may continue to treat the bull market as a weak pullback within a broader downtrend.

Staking rate reaches record levels

On-chain data adds another signal. CryptoQuant analyst EgyHash said that Ethereum’s staking rate exceeded 33% for the first time, reaching around 33.06%. Analysts explained that this trend is a sign that long-term holders remain locked in. $ETH Despite the price slump.

EgyHash noted that staking rates have steadily increased since the merger; $ETH Prices have gone through several bullish and bearish phases. Analysts said this shows that many holders prefer to hold. $ETH When the market is weak, bet instead of selling.

Higher staking rates can reduce the supply of liquid available on exchanges. Fewer coins will be available for immediate sale, which could support prices once demand returns. Still, the analyst cautioned that “staking growth alone does not guarantee an immediate price recovery.”

This makes staking a medium-term support factor rather than a short-term trigger. Although this may lead to tight supply, $ETH Demand from ETFs, spot buyers, treasury companies, and on-chain users is still needed to create a stronger recovery.

Corporate buyers continue to increase $ETH

Despite weak price movements, corporate demand for government bonds remains strong. As previously reported, SharpLink purchased an additional 10,000 pieces $ETH Sold for $16.1 million, increasing number of shares held to 886,725 $ETH. The purchase comes as Ethereum heads toward an unusual third consecutive quarterly loss.

BitMine also expanded its Ethereum treasury. Additionally, BitMine added 27,084 $ETH Number of shares held increased to over 5.7 million shares in one week $ETHor about 4.7% of the circulating supply.

Pressure from institutional investors is expanding beyond purchases of government bonds. Earlier today, crypto.news reported that Ethereum Institutional was launched with support from BitMine, SharpLink, and Joe Lubin to support adoption by banks, asset managers, custodians, and other financial companies.

Corporate buying has not yet changed the short-term trend. Whale sales, ETF weakness, and widespread risk-off trading continue. $ETH Below the $1,700-$1,800 recovery band. Still, these purchases show that some institutions continue to add $ETH At a lower price.

ali chart said $ETH It is approaching a long-term support area around $1,100, a level he described as the lower end of a multi-year channel. He pointed to $3,000 as an intermediate target and $5,000 as a macro ceiling if the lower channel holds.