Ethereum Defends Support Structure Ahead of Fed Rate Decision

Ethereum's price rose nearly 2% on July 29 as US spot ETF inflows and short liquidations helped defend its rising support structure before the Federal Reserve’s rate decision.

The token had traded between approximately $1,856 and $1,926 during the session. The recovery followed a successful defense of the $1,850, $1,880 region. Ethereum first reclaimed the daily Bollinger Band midpoint at $1,874 before moving back above the psychological $1,900 level.

Morgan Stanley's Ethereum Trust listed on NYSE Arca under the ticker MSSE and attracted $5.15 million in net inflows on its first trading session. BlackRock’s ETHB recorded the largest daily inflow at $5.91 million, while combined spot Ethereum ETF inflows reached $14.53 million.

Derivative positioning added momentum to the recovery. Ethereum short liquidations reached $37.68 million over 24 hours, slightly exceeding the $36.66 million recorded for leveraged long positions.