Ethereum surged above $1,700 on July 3, trading close to $1,715 after a rise of more than 6% in the past 24 hours. The move marked a notable recovery from recent downward pressure and brought the cryptocurrency back into the spotlight at a closely watched technical level.
Spot ETF inflows and a critical price threshold
Alongside Ethereum’s climb, US spot Ethereum ETFs saw a sharp uptick in inflows. Data from SoSoValue showed a total net inflow of $29.08 million into these ETFs on July 2. BlackRock’s ETHA fund accounted for the bulk of this movement with $29.74 million in net inflows, while Grayscale’s ETHE fund recorded $2.75 million in net outflows on the same day.
Market analyst Daan Crypto Trades noted that Ethereum jumped 10% on a weekly basis, retesting the $1,750 level that marked the February lows. According to the analyst, holding above this level signals a strengthening price structure and points to a key technical threshold for the asset.
Daan Crypto Trades highlighted that reclaiming the $1,750 zone could be seen as a sign of strength, though he indicated he would keep watching the price action around resistance as the close approached.
Rare technical indicator flashes buy signal
A TD Sequential buy signal also appeared on Ethereum’s monthly chart, grabbing market attention due to its infrequency. Technical analyst Ali Charts commented that this signal, while rare, could mean sellers are becoming exhausted on longer time frames.
Mini glossary: The TD Sequential is a technical indicator developed by Tom DeMark, designed to identify points where a market trend may be weakening and potential reversal zones may emerge. It does not, however, confirm a trend reversal on its own.
Historical data shows that previous monthly TD Sequential buy signals have preceded rallies of 235% in 2022 and 182% in 2025. However, analysts caution that a single signal does not guarantee the start of a new uptrend.
Ali Charts emphasized that July began with a strong technical signal for Ethereum, with the market now closely monitoring the TD Sequential buy setup on the monthly chart.
Technical indicators and on-chain market flows
On the technical side, Ethereum’s MACD histogram entered positive territory at 19.33, with the MACD line moving above the signal line. Despite these moves, both indicators remained below the zero line. The RSI climbed to approximately 51.85, rising above both its moving average and the neutral 50 threshold.
The price recovered from a double-bottom formation around $1,565. In the near term, the first resistance level for Ethereum lies at $1,800, followed by a significant barrier at $2,000. The liquidity concentration between $1,740 and $1,750 is also drawing attention for short-term price action.
In derivatives markets, open interest surged 10.64% to $24.54 billion. Trading volume rose 14.48% to $44.74 billion. Funding rates spiked 113.86%, suggesting a notable increase in leveraged long positions.
On-chain analyst Darkfost from CryptoQuant observed that ETH withdrawals from Binance hit their highest level in three years, exceeding 166,000 in just 24 hours. In contrast, PelinayPA noted that Binance’s net flow stood at a positive 12,938 ETH, meaning more ETH was deposited than withdrawn. On the institutional side, BitMine added 27,084 ETH to surpass a total holding of 5.7 million ETH, while SharpLink acquired 10,000 ETH valued at $16.1 million during the recent drop.
