Ethereum [ETH] traded around $1,865 at press time, consolidating after recovering sharply from its June lows. The asset has continued to build higher highs and higher lows throughout July, keeping traders focused on whether it can reclaim the key $2,000 level.
Supporting that recovery, U.S. spot Ethereum ETFs posted a second consecutive week of net inflows, signaling renewed institutional demand after several weeks of persistent outflows.
Ethereum ETFs record second straight week of inflows
Spot Ethereum ETFs attracted $105.44 million in net inflows during the week ending July 17, following $84.42 million the previous week.
The back-to-back inflows marked a notable shift after five consecutive weeks of net outflows between mid-May and late June.
Meanwhile, cumulative net inflows climbed to $11.08 billion, while total ETF assets reached $9.97 billion, leaving the sector just shy of the $10 billion milestone.
BlackRock’s ETHA remained the largest contributor to institutional demand. The fund recorded $31.68 million in daily inflows on July 17 and managed $5.22 billion in net assets, accounting for more than half of the U.S. spot Ethereum ETF market.
Fidelity’s FETH added another $5.05 million, while the remaining funds recorded little or no net flow during the session.
ETH builds momentum, but $2K remains the hurdle
The weekly chart showed Ethereum continuing to recover from its June decline, with buyers successfully reclaiming the $1,800 region.
However, the broader trend has yet to fully turn bullish. Weekly RSI remained around 40, indicating momentum has improved from oversold conditions but is still below the neutral 50 level.
On the daily timeframe, the picture appeared more constructive.
ETH’s RSI climbed to around 58, reflecting strengthening buying momentum without entering overbought territory.
Price action also continued forming higher highs and higher lows throughout July, suggesting buyers have gradually regained control following June’s sell-off.
Can Ethereum reclaim $2,000?
The immediate challenge remains the $1,900 resistance zone.
A decisive break above that level could open the path toward the psychological $2,000 mark, which also represents a major area of previous supply.
On the downside, the reclaimed $1,800 level now serves as the first important support. Holding above it would reinforce Ethereum’s improving short-term structure.
At the same time, a rejection below $1,900 could trigger another period of consolidation before buyers attempt another breakout.
With institutional inflows returning and technical momentum strengthening, Ethereum’s recovery appears to be gaining traction. Whether that translates into a move above $2,000 will likely depend on buyers maintaining pressure over the coming sessions.
Final Summary
- Ethereum ETFs recorded a second consecutive week of net inflows, adding $105.44 million as total ETF assets approached the $10 billion mark.
- ETH continues to build a constructive technical structure above $1,800, but a sustained move above $1,900 remains necessary before bulls can target $2,000.
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