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Ethereum trades near $1,835 after dropping more than 2% over the past 24 hours. The asset has erased part of its recent recovery after facing resistance near $1,930 and the wider $2,000 level.
The decline comes as the broader crypto market faces policy uncertainty, geopolitical tension, leveraged liquidations, and weaker institutional demand. ETH now needs to defend the $1,800 support zone to avoid a deeper move toward $1,715.
Ethereum has recovered from the $1,550 demand zone but has struggled to extend the rebound above $1,900. Buyers recently pushed the price above its 20-day moving average, showing some improvement in short-term market structure.
However, ETH faces a strong resistance area between $1,900 and $2,030. This zone includes the 100-day moving average and a horizontal level that has blocked several recovery attempts. A daily close above $2,030 could support a move toward a $2,200 liquidity cluster.
Liquidation data shows that nearly $6 billion in short positions sit near $2,200. A firm move above $2,000 could force some short sellers to close positions, adding further buying pressure. The next major supply zone sits between $2,350 and $2,400.
On the downside, $1,800 acts as the nearest support level. A daily close below this price could expose ETH to the $1,715–$1,750 area. Further selling may bring the $1,550 demand zone back into focus.
U.S. spot Ethereum exchange-traded funds recorded more than $28 million in net outflows after attracting inflows for two consecutive sessions. Grayscale’s ETH fund posted the largest withdrawals at about $14.3 million.
Fidelity’s FETH recorded around $11 million in outflows, while Grayscale’s ETHE lost about $4.8 million. Bitwise’s ETHW was the only fund to attract capital, posting approximately $2.3 million in net inflows.
Despite the daily withdrawals, Ethereum ETFs have recorded more than $190 million in net inflows during July. However, the latest outflows show that institutional demand remains uneven as ETH struggles below the $2,000 resistance level.
Analyst Ali Martinez identified Ethereum’s realized price near $2,245 as the next major level after ETH reclaimed the 0.8 MVRV pricing band. Tony Research also expects a possible rebound toward $2,000, followed by $2,200 if Bitcoin moves closer to $70,000.
Also Read: Ethereum Staking Revenue Soars as Bitmine Reports 98% Contribution
A July 17 report said the latest CLARITY Act text may not have Democratic support in the Senate. Several Democrats reportedly object to the current ethics rules, which cover crypto holdings linked to senior government officials. The bill needs 60 votes to advance, while Republicans hold 53 Senate seats.
Senator Bernie Moreno said lawmakers would update President Donald Trump on the bill and its ‘path to success.’ Still, the lack of firm bipartisan backing raised fresh doubts over the timetable. The policy setback weighed on Ethereum and other large cryptocurrencies as traders reduced risk exposure.
The wider market also faced pressure from renewed U.S.-Iran tensions and weakness in technology shares. Nearly $400 million in crypto positions were liquidated within 24 hours, with long positions accounting for about $335 million. Forced closures added selling pressure as ETH moved toward $1,800.
