Ethereum Price Slips Below $2,000 as ETH/BTC Ratio Forms Cup and Handle

Ethereum's price fell 1.44% to $1,856 on August 3, consolidating between the 0.382 and 0.5 Fibonacci levels as RSI sits at a neutral 49.99.

The ETH/BTC ratio is forming a cup and handle below the 0.030 neckline, with a breakout pointing to ETH outperforming Bitcoin near term.

Ethereum trades at $1,856.19 on August 3, down 1.44%, consolidating inside a Fibonacci range between $1,837 and $1,939 as a descending trendline from the May peak continues to cap recovery attempts.

Spot ETH ETFs posted $27.42M in net inflows for the week of July 31, marking four consecutive positive weeks as Bitcoin ETFs snapped their streak.