Ethereum has fallen below $1,900 after reaching an intraday high of $1,936 before declining to a low near $1,878, with the token currently trading at approximately $1,883 and down 1.82% on the daily chart. According to crypto.news, the latest decline follows several failed attempts to establish support above $1,930, with each rebound producing renewed selling pressure that has left ETH inside a broader consolidation range rather than confirming a breakout. The 4-hour Relative Strength Index has dropped to 43.02, falling below its moving average of 50.13 and indicating that sellers have gained control, though the reading remains above the oversold threshold of 30. Support sits near $1,873–$1,875, with the daily chart placing the 0.618 Fibonacci retracement at $1,873.50 and the 4-hour lower Bollinger Band at $1,875.19, making this range the first level bulls need to defend.
Ethereum recovered above $1,900 after rebounding from an intraday low near $1,856, with the token trading at approximately $1,913 at the time of writing, up about 2% over the past 24 hours. According to crypto.news, the recovery followed a successful defense of the $1,850–$1,880 region, with ETH first reclaiming the daily Bollinger Band midpoint at $1,874 before moving back above the psychological $1,900 level. US spot ETF inflows reached $14.53 million, including $5.15 million for Morgan Stanley's MSSE, which listed on NYSE Arca under the ticker MSSE. The Chaikin Money Flow reading stands at 0.08, above the neutral line and indicating that capital inflows currently outweigh distribution, though the indicator remains below its July high, suggesting demand has not yet reached breakout strength.
Arthur Hayes purchased 3,298 more Ether (ETH) worth $6.39 million on July 28, roughly three hours before Ethereum's spot price slid from $1,960 to $1,872. According to Lookonchain data, this latest acquisition represents Hayes's largest single purchase in a buying streak that began on July 15. The purchase brings his total ETH holdings to 7,213 ETH at an average price of $1,923, leaving him approximately $368,000 underwater on the position. The 4.5% price drop from the purchase price demonstrates the volatility in crypto markets even during accumulation phases, with the decline attributed to broader market de-risking ahead of the Federal Reserve's policy meeting rather than Hayes's trading activity.
Ethereum short liquidations reached $37.68 million over 24 hours, slightly exceeding the $36.66 million recorded for leveraged long positions, adding momentum to the recovery. The largest single liquidation was a $4.74 million ETH-USDT position on Binance, according to CoinGlass data. Forced closures of short positions require exchanges to buy back contracts, which can accelerate an existing price recovery. The 24-hour liquidation heatmap shows the strongest overhead concentration around $1,938–$1,940, with additional liquidity resting near $1,955–$1,960. These clusters may attract price if ETH maintains support above $1,873, with a move through $1,906 potentially exposing the $1,938 Bollinger Band resistance and the $1,986 psychological threshold. Failure to recover $1,900 would keep the downside scenario active, with leveraged positions accumulated around $1,875 and $1,850 becoming vulnerable.
Ethereum's 4-hour chart places the token inside an ascending parallel channel that has guided price since early July, with the Aroon Up indicator at 71.43% compared with an Aroon Down reading of zero, suggesting the recent bullish trend retains control despite ETH's failure to hold its July 27 high near $1,970. The Awesome Oscillator remains positive at 15.66, with green histogram bars showing short-term momentum improvement following the latest pullback. However, the 4-hour RSI has dropped to 43.02, below its moving average of 50.13, indicating weakening short-term momentum. The upper Bollinger Band sits at $1,973, making the $1,970–$2,000 region the next technical barrier. A close above $1,940 would clear the first major liquidation zone, with bulls needing to break $1,970 and the upper Bollinger Band to open a test of $2,000. On the downside, leveraged positions are concentrated near $1,895–$1,900 and between approximately $1,870 and $1,885, with failure to hold $1,873 potentially weakening the channel structure.
Crypto analyst Michaël van de Poppe described the current decline as a lower-timeframe correction while maintaining a positive longer-term view, stating that "ETH is holding above $1,800 and as long as that's the case, there's not much to worry," and adding that he still expects Ethereum to reach $2,500 in the coming months. Analyst Ted Pillows identified a narrower support range, noting that momentum was weakening after ETH fell below $1,900 but emphasizing that the token remained above its $1,850 support zone, stating "As long as it holds, I think ETH is more likely to rally towards $2,000." However, broader conditions remain challenging for risk assets, with the Federal Reserve's decision to maintain elevated interest rates keeping financing conditions restrictive for US investors, while geopolitical uncertainty in the Middle East has supported a more defensive market posture. Corporate buying may support ETH over longer periods, with market commentator Rain noting that BitMine added nearly 10,000 ETH during the previous week, taking its reported holdings to approximately 5.79 million ETH, though weak on-chain activity and redemptions from spot Ethereum exchange-traded products have reduced buying support.
