Ethereum is maintaining its price above a key support range, as buyers work to keep the cryptocurrency from entering a deeper correction phase. Although ETH has posted a modest 0.55% gain over the last 24 hours and currently trades at $1,861.67, technical indicators point to an easing of bullish momentum.
Key support area and market sentiment
Over the past day, trading volume for Ethereum has reached $21.41 billion, while its market capitalization stands at $225.24 billion. These figures suggest that investor activity remains strong, despite recent volatility in the asset’s price.
Crypto analyst Ted highlighted on August 3, 2026, the importance of the $1,800 to $1,850 support range for Ethereum. He views this as a crucial zone, with the potential to determine Ethereum’s short-term direction. If ETH holds above the support, buyers could attempt to move the price toward the next resistance levels. However, a decisive break below this range could trigger a decline toward $1,700.
Support zones often play a critical role during uncertain periods, as these levels historically attract buying interest. If such a zone is breached, additional selling pressure from short-term participants can increase downward momentum.
Crypto analyst Ted emphasized that the $1,800 to $1,850 range is key for ETH, noting that holding this level could enable further upward moves, while a break lower may send the price down to $1,700.
Long-absent Ethereum holder returns to market
Market monitoring platform Lookonchain reported a significant transaction involving a long-standing Ethereum holder. After remaining inactive for nearly three years, this wallet sold 2,250 ETH — with a total value of $4.15 million — on August 3, 2026.
According to on-chain data, the investor originally purchased these tokens over eight years ago at an average price of $489 per ETH. Despite the time away from trading, the sale has resulted in substantial profits for the holder.
Large transactions from dormant wallets tend to draw attention, raising concerns about short-term selling pressure and potential shifts in sentiment. However, one isolated sale does not necessarily signal an overarching trend in the market.
Lookonchain reported the sale from an early investor, emphasizing the notable profit margin given the purchase price eight years ago was around $489 per ETH and the recent sale amounted to $4.15 million.
Technical analysis points to fading bullish strength
Indicators show that Ethereum’s most recent bounce is losing strength. The Relative Strength Index (RSI) stands at 51.05, having slipped below its moving average of 56.59. Although the RSI remains just above the neutral 50 mark, it has drifted under its signal line, pointing to a decrease in buying pressure without a shift to overtly bearish conditions.
The Moving Average Convergence Divergence (MACD) further suggests the uptrend is fading. The current MACD value is at 21.65, below its signal line at 31.30, and the histogram has turned down to -9.65. This bearish crossover indicates that sellers are strengthening their position.
If buying momentum does not reappear soon, analysts expect Ethereum might either trade sideways or decline. The next several sessions will likely influence near-term price direction, with buyers aiming to protect the $1,800 support, and sellers attempting to push the price lower.
Ongoing attention remains on the actions of major long-term holders and whales, as their transactions can contribute to volatility. Investors are also monitoring volume dynamics, watching for shifts in either buying or selling patterns.
During these periods of technical uncertainty, platforms such as CryptoAppsy offer traders an integrated dashboard with real-time prices, portfolio management, and smart alerts. This allows users to respond quickly to changes in ETH price, discover new coin listings, set up custom news filters, and keep track of macroeconomic trends, such as Fed interest rates, helping investors stay proactive as market conditions shift.
