Ethereum remained stable above the $1,900 mark, consolidating between $1,910 and $1,918 in recent sessions. Following a steady climb over the past week, the digital asset preserved its position above the key psychological level, supported by consistent demand and positive market sentiment.
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AAPLKey technical milestones and investor sentiment
Throughout early August, buyers repeatedly defended the $1,840 to $1,850 range, preventing any sustained downward move. Over the last seven days, ETH advanced over 4%, and managed to remain above pivotal moving averages. Specifically, Ethereum now trades above its 20-day moving average at $1,895, its 50-day MA at $1,796, and its 100-day MA at $1,911, though it remains under the 200-day MA situated at $2,061.
Market indicators point to continued bullish momentum. The daily Bull Bear Power index moved into positive territory at 32.07, suggesting a moderate advantage for buyers. The 4-hour Relative Strength Index currently measures 61.74—comfortably above its own signal line, although still below the 70 level that would indicate overbought conditions. Technical observers have identified $2,000 as the primary area of resistance in the near term, with $1,900 marking a key dividing line for trader sentiment.
Market analyst Ted Pillows addressed Ethereum’s recent performance, commenting that spot ETH ETFs collectively accumulated $244.94 million this week—representing the strongest net inflows over the past four months. He noted that despite delays in Clarity Act proceedings, Ethereum remains on solid footing.
The analyst argued that as long as ETH holds its position above $1,900, the market could see a renewed push toward the $2,000 level.
ETF inflows and macroeconomic impact
Spot Ethereum ETFs in the United States reported net inflows of $92.15 million on August 6 alone. BlackRock’s ETHA product was the largest contributor, bringing in $50.34 million in a single session. Overall, cumulative net inflows into US-based spot ETH ETFs have exceeded $11.4 billion, underlining robust institutional demand.
Fueling this sentiment, US employment data released on Friday amplified risk appetite in the broader financial markets. The US economy shed 23,000 jobs in July, in sharp contrast to forecasts suggesting an increase of around 80,000. The unemployment rate slipped to 4.1%, beating expectations. These figures have lowered the chances of an additional Federal Reserve rate increase, with futures markets now pricing in about a 56% chance that policymakers will hold rates steady at the next meeting.
Observers noted that disappointing job numbers have softened the outlook for further tightening, which has lent support to risk assets, including cryptocurrencies such as ETH.
Ethereum’s position above multiple key technical levels and continued strong ETF inflows suggest that the asset remains in a favorable environment, especially as macroeconomic conditions reduce the likelihood of stricter monetary policy.
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Liquidation data and future outlook
According to the latest three-day liquidation heatmap, leveraged positions are concentrated near $1,925, with heavier clusters between $1,945 and $1,955. Persistent upward momentum in ETH could lead to forced liquidation of short positions if price action breaches these levels, possibly accelerating movement toward $1,950.
At the close of Friday’s session, Ethereum settled just below the $1,920 mark, with the $1,900 threshold serving as critical near-term support and $2,000 representing the next technical hurdle. Analyst Michaël van de Poppe has indicated that ETH may outperform Bitcoin should BTC maintain its positive trajectory, with a longer-term ETH target of around $2,400—conditional on a clear break above both $2,000 and the 200-day moving average.
Observers widely agree that near-term momentum hinges on ETH’s ability to sustain its price above $1,900. Price action around $2,000 will be closely watched as a signal for the next stage of the trend.
