Ethereum ended July with a 20.3% gain, its strongest monthly advance in a year, as Spot ETF inflows helped lift ETH toward the key $2,000 resistance level. The rebound erased much of June’s 21.8% decline. However, Crypto Patel’s chart keeps the broader downtrend intact and places the next major test between $1,900 and $2,000.

July Rebound Restores Lost Ground

July’s advance outpaced Ethereum’s historical performance for the month. ETH has recorded an average July return of 10.7%, while its median July return remains negative. The move also followed a difficult first half of 2026. Ethereum fell from about $2,445 in January to $1,472 in April as recession concerns and liquid supply changes reduced demand.

Buyers defended the April low and kept ETH mainly between $1,500 and $2,000 during May and June. July’s rally then carried the asset toward $1,900. Spot Ethereum ETFs recorded net inflows on most trading days in July. That demand continued through several short-term price pullbacks. Daily net inflows reached $13.29 million by month-end. Ethereum Spot ETFs held total assets worth about $10.52 billion.

Several sessions still produced large outflows. Buyers returned after those declines and helped ETH preserve much of its monthly recovery.

Also Read: Ethereum Faces Fresh Headwinds as Layer-2 Activity Drops 

Resistance Keeps the Broader Downtrend Active

Ethereum traded near $1,885 when Crypto Patel published the two-day chart. The price sat near a support and resistance zone between $1,750 and $1,850. A descending trendline from the August 2025 record high still caps major recovery attempts. ETH reached $4,953.73 on August 24, 2025, before falling about 62%.

Can ETH secure a daily close above $2,000 before sellers regain control? Such a close could open a move toward $2,180 and the $2,400 to $2,500 supply zone. That upper zone also contains a fair value gap from a rapid earlier move. Ethereum tested the area during its April recovery but failed to hold above it.

The rejection pushed ETH back toward $1,500 in June. Crypto Patel’s chart places larger upside targets between $7,000 and $10,000 only after price confirms a breakout. A renewed failure near resistance could instead return ETH toward $1,500 or $1,000. Holding the $1,750 to $1,850 region remains important for the current recovery.

Conclusion

Ethereum’s 20.3% July gain restored much of June’s decline as Spot ETF inflows supported demand. ETH now faces resistance between $1,900 and $2,000. A daily close above $2,000 could expose $2,180 and $2,500, while rejection could return price toward $1,500.