Ethereum rebounded 18.5% in July to ~$1,850 with analysts expecting a breakout above $2,000 if it holds key support, supported by ETH exchange reserves at 10-year lows.
Macro & Markets ·
Ethereum rose 18.5% during July and currently trades near $1,850, with multiple analysts forecasting a breakout above $2,000 if the asset holds above $1,800 support. Exchange reserves of ETH have fallen to 10-year lows at 15.1 million coins, reducing selling pressure and supporting bullish sentiment. Analysts also suggest that a break of Ethereum's one-year downtrend could trigger a broader rally across altcoins.