Ethereum's recovery has stalled beneath the $2K to $2.15K resistance zone, and the rejection near the 100-day moving average has pushed price back into the $1.88K to $1.91K support band. Whale-sized spot buyers stayed active through the bounce, while U.S. spot ether ETFs drew $9.23 million on July 27.
Ethereum has paused after its recent recovery, with price action compressing beneath the $2K to $2.15K resistance zone on the daily timeframe, where the 100-day moving average continues to reinforce selling pressure. Buyers recovered strongly from the June lows, but the latest rejection near that average shows the broader bearish structure has not yet been invalidated.
The $1.88K support band decides the next move
The pullback has brought ETH back into the $1.88K to $1.91K support zone, which now serves as the first line of defense for buyers. Holding above that area could allow another attempt toward the $2K to $2.15K resistance region, while losing it would expose the next demand zone around $1.75K to $1.8K.
Beyond that, a deeper correction could eventually extend toward the stronger support around $1.56K to $1.65K.
Four-hour chart compresses between two trendlines
On the shorter timeframe, ETH is consolidating inside a narrowing range between an ascending trendline acting as dynamic support and a descending trendline overhead. That compression reflects increasing indecision as buyers and sellers battle near the $1.88K to $1.91K supply zone.
While the price stays confined between the two lines, short-term volatility may stay limited. However, a breakdown below the ascending trendline would invalidate the series of higher lows and likely trigger a decline toward the $1.75K to $1.8K demand zone. A decisive breakout above the descending trendline and the nearby supply zone would instead improve the short-term outlook.
Large spot buyers stay active near yearly lows
The Spot Average Order Size metric shows large spot orders from whale-sized participants becoming increasingly active during Ethereum's recent recovery. Because ETH still trades relatively close to its yearly lows, that behavior is more consistent with accumulation than aggressive distribution.
Historically, increased participation from large spot buyers near depressed price levels has often reflected long-term positioning rather than short-term speculation. That does not guarantee an immediate trend reversal, yet it suggests larger participants are gradually accumulating exposure as Ethereum trades well below its previous cycle highs.
Ether funds also took in capital as the week opened. U.S. spot ether ETFs attracted $9.23 million on Monday, July 27, led by an $11.75 million addition to Blackrock's ETHA. Bitcoin ETFs, by contrast, recorded $11.64 million in net outflows on the same day, a third straight session in the red.
Sources: CryptoPotato, Bitcoin News
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