What to know:
- Ethereum price is testing the key 50-day moving average on the 3-day chart, a resistance level that could decide its next trend.
- Momentum indicators are weakening as RSI slips and MACD turns bearish, signaling fading buying strength.
- Arthur Hayes accumulated another 3,298 ETH, bringing his July purchases to 7,213 ETH despite recent price weakness.
Ethereum price is currently near an important resistance zone that will decide which way it will go. Although the momentum studies indicate that there is less buying power, the persistent accumulation of the asset by Arthur Hayes indicates that there is still a bullish outlook on it.
At the time of writing, ETH is trading at $1,887.9, with a 24-hour trading volume of $23.60 billion and a market capitalization of $227.22 billion. ETH has declined 3.38% over the last 24 hours as selling pressure returned after its recent recovery.
Ethereum Price Nears Breakout Test
On July 28, 2026, a popular crypto analyst, BATMAN, commented that Ethereum is at an important juncture from the higher timeframes. In his opinion, ETH is approaching the 50-day MA on the 3-day timeframe, which has served as a level of strong resistance multiple times in the previous year.
It was also observed that Ethereum had found it difficult to break above this moving average when it tried to recover in the past. A breakout will add to the conviction that there is a recovery happening, while a rejection will add to the selling and keep the price confined in its existing range.
Investors who follow technical analysis will always focus on higher timeframe moving averages as these can determine the movement of price for weeks and months. This means that the coming reaction at this resistance level will be an important event.
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Ethereum Price Momentum Begins to Slow
Even though Ethereum is still trading above various levels of support, the technicals indicate that buying pressure has declined somewhat.
The RSI-14 stands at 53.82, with the RSI’s moving average currently at 59.54. Although the RSI is above the 50 neutral level, indicating a slight edge for the buyers, the indicator is heading downward, demonstrating that bullish sentiment is losing momentum as ETH moves around the $1,875 level.
However, even the MACD line seems to be weak now. MACD is at 37.27, which is lower than the signal line at 39.19. Moreover, the histogram reading is negative at -1.92. All these factors mean that buyers’ strength is weakening, and the Ethereum price may be under more pressure if there is no strong demand for it again soon.
Arthur Hayes Continues Buying Ethereum
In spite of the recent fall, some key investors keep piling up their holdings in Ethereum. As per the information from the blockchain analytics firm Lookonchain, Arthur Hayes, co-founder of BitMEX, bought an additional 3,298 ETH for about $6.39 million shortly before the news release.
From July 15, Hayes has bought 7,213 ETH for approximately $13.87 million on average buying price of about $1,923 per token. With respect to the present-day pricing, Hayes’ position is currently underwater by about $301,000.
Big investments made by famous investors are likely to get a lot of media coverage because such moves may indicate confidence in the future performance of Ethereum. Nevertheless, these investments do not automatically mean that the price of Ethereum will rise soon.
Ethereum Price Eyes Next Rally if Key Level Breaks
The coming days may prove crucial for Ethereum. Investors need to keep an eye on how buyers are able to make a break past the significant resistance noted by BATMAN.
It would not only improve the positive bias but could help to see further upside action. However, a rejection at the current level by the bears could force ETH to retest some lower levels of support.
In the meantime, the following three aspects would be closely observed by investors. If the Ethereum price is able to rise above the 3-day and 50-day moving averages. If the RSI and MACD turn bullish.
With technical factors declining and an important level of resistance coming right ahead, the next price movement can prove quite crucial for the direction of Ethereum in the upcoming weeks.
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This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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