What to know:
- Ethereum price remains below key moving averages while buyers defend support near the 50-day EMA.
- Open interest remains above $26 billion, showing traders continue holding leveraged positions.
- Stable on-chain activity and a bullish market outlook from Ted Pillows keep attention on the $1,930 resistance level.
Ethereum price is still consolidating around a significant technical zone as traders keep their derivatives positions largely unchanged, while on-chain activity remains stable.
At press time, Ethereum is trading at $1,860.33, remaining close to a key resistance area after recovering from its June lows. Although buyers continue defending important support levels, the cryptocurrency still needs to reclaim higher resistance before confirming stronger bullish momentum.
Also Read: Ethereum Price Faces Sell Signal After 31% Rally as TD Sequential Turns Bearish
Why Ethereum Price Faces Caution Around $1,930
The daily TradingView chart shows that Ethereum is trading slightly below the 20-day EMA at $1,871. The 50-day EMA at $1,849 has become immediate support. Recently, buyers have defended this level, preventing a deeper pullback.
The next resistance zone is represented by the 100-day EMA near $1,931, which coincides with a horizontal resistance area that has rejected several breakout attempts. A daily close above this level could strengthen bullish momentum, while failing to stay above the 50-day EMA may bring the $1,647 support level back into focus.
In addition, the On-Balance Volume (OBV) has been slowly recovering since the end of June, suggesting buying pressure has gradually improved even though the price remains below a major resistance level.
Also Read: Ethereum Price Eyes $35K as Breakout Pattern and Whale Buy Fuels Momentum
Ted Pillows Highlights Ethereum Price Support
Crypto analyst Ted Pillows shared his latest outlook on X after Ethereum slipped below the $1,900 mark. He wrote, “ETH has dropped below the $1,900 level,” while adding that “Ethereum is still holding above its $1,850 support zone.” He also said, “As long as it holds, I think ETH is more likely to rally towards $2,000.”
The analyst’s outlook broadly aligns with Ethereum’s current technical setup. Holding above the $1,850 support zone keeps the possibility of further upside alive, but buyers still need to overcome the $1,930 resistance area before a stronger bullish trend can be confirmed.
Until then, Ethereum remains in a consolidation phase, making these technical levels critical for traders to monitor.
Also Read: Ethereum Price Eyes Recovery as Large Whale Transactions Reach $430 Million
Ethereum Price Finds Support From Derivatives and On-Chain Data
Based on CoinGlass data, Ethereum’s open interest remains above $26 billion, showing that traders continue holding their leveraged positions instead of closing them. Meanwhile, derivatives volume has remained relatively steady throughout July, with no signs of excessive speculation.
On the blockchain side, DeFiLlama data shows total value locked (TVL) remains close to $40 billion, while the number of active addresses and daily transactions has remained broadly stable. This stability in on-chain activity reflects the resilience of Ethereum’s ecosystem despite recent price consolidation.
Things to Watch for Ethereum Price
Ethereum is nearing an important technical crossroads. A sustained move above $1,930 would improve the short-term outlook and could attract stronger buying momentum. Conversely, if support at the 50-day EMA near $1,849 is lost, attention may shift back to the $1,647 support level.
With derivatives positioning remaining elevated and the network’s underlying fundamentals staying stable, traders will likely watch whether buying pressure can translate into a confirmed breakout.
Cryptocurrency markets remain highly volatile, and traders should monitor price action, market sentiment, and upcoming catalysts before making investment decisions.
Also Read: Ethereum Price Approaches Critical 50-Day Moving Average as Whale Buying Continues
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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