TLDR
- Ethereum climbed from $1,800 to near $1,945, trading around $1,929 at time of writing
- A Nasdaq rally and $37.47M in ETF inflows drove fresh demand for ETH
- Analyst Ted Pillows says the $1,870–$1,900 zone must hold for a push above $2,000
- ETH/BTC has broken an 11-month downtrend, with analysts eyeing 0.032–0.035 BTC
- A close below $1,859 would weaken the recovery and expose $1,828 support
Ethereum has climbed sharply over the past 24 hours, moving from $1,800 to an intraday high near $1,945. At the time of writing, ETH was trading around $1,929, roughly 6% above its July 21 low.
The move came after a broad rally in U.S. equities. The Nasdaq Composite gained 1.3% and the S&P 500 rose 0.9%, led by semiconductor and AI stocks. Micron gained 12.2% and Nvidia added 2%, lifting risk appetite across markets.
ETF inflows added to the buying pressure. U.S. spot Ethereum ETFs recorded $37.47 million in net inflows during the latest session, according to SoSoValue. BlackRock’s ETHA led with $52.7 million in inflows, partially offset by outflows from Fidelity’s FETH.
According to SoSoValue data, spot Bitcoin ETFs recorded $203 million in net inflows on July 21 (ET), marking the sixth consecutive day of net inflows. Spot Ethereum ETFs saw $37.471 million in net inflows, extending their net inflow streak to three days. pic.twitter.com/kmkANGsLwA
— Wu Blockchain (@WuBlockchain) July 22, 2026
On the technical side, ETH has been trading inside an ascending channel since its late-June low near $1,514. The 20-day simple moving average sits at $1,828 and has held as support during the recovery.
Key Resistance Sits Between $1,945 and $2,000
The $1,945–$1,953 zone is the first barrier ETH needs to clear. Price has tested this area twice without a daily close above it. The 4-hour Fibonacci structure places the full recovery level at $1,953.
A close above $1,953 would bring the 100-day SMA at $1,981 into play, followed by the psychological $2,000 level. CoinGlass data shows the heaviest short liquidation cluster sits between $1,950 and $1,960, meaning a break there could accelerate the move higher.
Analyst Ted Pillows identified $1,870–$1,900 as the key support range. He wrote: “If the $1,870–$1,900 level holds, Ethereum could soon rally above $2,000.”
ETH/BTC has broken out of 11-month downtrend.
Ethereum could start outperforming Bitcoin heavily now. pic.twitter.com/oLxIyV9ACf
— Ted (@TedPillows) July 22, 2026
Trader Daan Crypto Trades noted that ETH has outperformed BTC in Q3, rising 22.98% compared to an 8.86% historical average for the quarter. He added that ETH’s recovery follows its weakest first half since 2022. He also noted that “BTC will have to lead the market though,” pointing to Bitcoin’s role in driving broader altcoin moves.
$ETH Attempting a breakout and closd above its Bull Market Support band again for the first time since late 2025.
Need to see some follow through here by the bulls though. Above 0.03+ and I will consider this a full on breakout and likely a move that will continue for a while… https://t.co/KdJcqarrjG pic.twitter.com/63jIJmgKaV
— Daan Crypto Trades (@DaanCrypto) July 21, 2026
ETH/BTC Breaks 11-Month Downtrend
Analyst Ted Pillows posted on X that ETH/BTC has broken out of an 11-month downtrend, saying “Ethereum could start outperforming Bitcoin heavily now.”
Analyst MikybullCrypto confirmed that Ethereum has reclaimed its weekly bull market support band against Bitcoin. Analyst Daan Crypto Trades added that a sustained move above 0.03 BTC would confirm the breakout, with resistance targets at 0.032 and 0.034 BTC. ETH/BTC currently remains below the 0.03 level, meaning the breakout is not yet confirmed.
If ETH drops below $1,859, the next levels to watch are $1,828 and $1,785.
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