Ethereum traded near $1,615 on July 2 as buyers tried to steady the market after weeks of pressure. According to price data cited by crypto.news, ETH gained 2.49% over 24 hours, with an intraday range from $1,564.82 to $1,637.22. Its market capitalization stood near $194.87 billion, while 24-hour trading volume was about $10.81 billion.
Price is still sitting near the lower end of its recent range. For traders, the key issue is unchanged: Ethereum needs to reclaim the $1,700 to $1,800 area before the move can look like more than a fragile bounce.
Spot ETF flows flip back into positive territory
U.S. spot Ethereum ETFs posted a net inflow of $14.895 million on July 1, according to SoSoValue. BlackRock’s ETHA led the day with a single-session inflow of $36.639 million.
That reversal matters because ETF weakness had been a major weight on sentiment. In the week ending June 26, spot Ethereum ETFs recorded $273 million in net outflows, with BlackRock’s ETHA accounting for $236 million of those withdrawals. During that stretch, traders kept their focus on the $1,500 support zone.
One positive day does not erase the broader softness. ETF demand can translate into spot buying pressure when flows are positive; if flows turn negative again, managers may have to redeem underlying ETH, which can add supply back into the market.
Technical signals improve, but recovery is not confirmed
Ethereum’s short-term structure remains cautious. Recent trading has stayed mostly sideways in the $1,580 to $1,650 range, following quarter-end selling, whale distribution, and weak institutional flows that kept ETH pinned near the $1,500 area.
Indicators show early improvement rather than a full reversal. The MACD histogram is positive at around 7.60, while the MACD line sits near -66.92, above the signal line around -74.52. That points to a bullish crossover and fading bearish momentum. Still, both lines remain below zero.
The RSI stands near 40.46, above its moving average around 36.50. Momentum has recovered somewhat, but the reading is still below 50. A stronger setup would likely require both a higher RSI reading and a reclaim of the $1,700 to $1,800 band.
Staking climbs above 33% as more ETH stays locked
On-chain data is sending a different message. CryptoQuant analyst EgyHash said Ethereum’s staking rate has moved above 33% for the first time, reaching about 33.06%. That suggests more ETH is being locked even as short-term price action stays weak.
According to the analyst, the staking rate has climbed steadily since the Merge, while ETH has gone through multiple bull and bear phases. In practice, that points to long-term holders keeping coins staked instead of selling into soft market conditions.
Higher staking participation can reduce liquid supply available for trading. If demand returns, tighter supply could support price. Even so, EgyHash warned that “staking growth alone does not guarantee an immediate price recovery.” The signal looks more like medium-term support than a near-term catalyst.
Corporate treasury buying continues at lower prices
Corporate accumulation has also stayed active. SharpLink bought another 10,000 ETH for $16.1 million, taking its holdings to 886,725 ETH. BitMine added 27,084 ETH in one week, bringing its total to more than 5.7 million ETH, or about 4.7% of circulating supply.
The institutional push is extending beyond treasury purchases. The report said Ethereum Institutional launched with backing from BitMine, SharpLink, and Joe Lubin, with the stated aim of supporting adoption by banks, asset managers, custodians, and other financial firms.
Even so, those purchases have not changed the short-term trend. Whale selling, earlier ETF weakness, and broader risk-off trading have kept ETH below the $1,700 to $1,800 recovery zone. Separately, Ali Charts said ETH is approaching a long-term support area near $1,100, which he described as the lower boundary of a multi-year channel.