Ethereum Defends $1,850 Breakout Level Amid ETF Inflows

Ethereum's price held steady at around $1,850 for the second week in a row, defending a key breakout level. The token opened at $1,858.53 and traded as high as $1,874.41 on Tuesday, but struggled to break through the $1,860 resistance zone.

The spot ether ETFs saw significant inflows of $365 million in July after eight straight weeks of outflows, a positive sign for Ethereum's price action.

However, volume remains a concern, with the 24-hour figure down 55.47% at the start of the month. This suggests that the price is holding on due to lack of selling rather than aggressive accumulation.