Ethereum Tests $2,000 Ceiling Amid Record Staking and Institutional Support
Ethereum's price continues to test the $2,000 mark as it approaches its 11-year anniversary. The token has gained around 30% in the last month, reaching a high of $1,980 on July 27 before pulling back.
The near-term picture for Ethereum is looking better than the annual one, with the Fear and Greed index reading 29, firmly in fear territory. This sentiment backdrop often precedes durable recoveries.
The July spot ETF inflows reached $342.9 million, reversing June's net outflows of $528.99 million. Ethereum funds took in $71.17 million over seven days, while Bitcoin funds shed $200.23 million.
Despite the strong fundamentals, such as record staking levels and a growing institutional presence, the price has struggled to break above $2,000. The 100-day exponential moving average sits at around $1,960, directly inside the resistance band of $1,940 to $2,000.