Ethereum's Strong July Recovery Faces Uncertainty at $1,900

Ethereum's July performance was impressive, with a 20.3% gain marking its strongest monthly return in over a year.

This rebound helped Ethereum recover much of June's losses and brought confidence back to the market after a difficult first half of 2026.

The recovery was fueled by strong demand for Spot ETFs, with most trading days seeing net inflows. However, despite this momentum, Ethereum ended July below $1,900, with indications that breaking through to $2,000 may be uncertain.

Derivatives activity slowed down in July, with aggregated Open Interest dropping to around $11.46 billion from recent highs. Funding was positive at 0.0024%, but the advantage held by long positions was small.