Ethereum Recovers 25% From Lows as Bitcoin ETF Flows Rise

Ethereum (ETH) traded near $1,878, up 1% on Monday and 25% above its $1,500 support level, following a period of low volatility and converging moving averages [1]. The move coincided with a surge in Bitcoin spot ETF inflows, which reached $297.5 million on August 17 [2].

Price Action and Technicals

Ethereum's recent gains mark a recovery from its July 6 low of $1,767 and place it above the $1,600 ceiling that had capped its price for months [1]. Despite the daily increase, ETH remains 1% lower over the trailing week [1]. The asset's market capitalization is approximately $233 billion, with a circulating supply of 120.47 million tokens [1].

Technically, Ethereum's 20-day exponential moving average (EMA) sits at $1,868, while the 50-day EMA is near $1,850, a narrow gap of $17.6 or 0.94% [1]. This compression reflects two months of directionless trade in August, with 30-day realized volatility at 1.35% [1]. The 14-day Relative Strength Index (RSI) has risen to 55.5, crossing above its moving average at 54.8, marking the first bullish crossover in several weeks and indicating accelerating momentum [1].

Broader Market Context

Ethereum's rally occurred as Bitcoin (BTC) crossed $64,000 before settling at $63,260 [1]. Bitcoin spot ETFs saw significant inflows, with August 17 recording $297.5 million, led by BlackRock's IBIT with $160.2 million and Fidelity's FBTC with $111.9 million [2]. However, some ETFs experienced outflows, such as Grayscale's GBTC, which had $52 million in outflows on August 10 [2].

Ethereum's monthly network fees in June collapsed to $10.7 million, down 56% from $24.4 million in April [1]. The asset trades 62.1% below its August 2025 all-time high of $4,953, a deeper underperformance compared to Bitcoin, which is roughly 45.7% lower over twelve months [1]. Citi recently cut its twelve-month Ether target from $3,175 to $2,240, citing negative ETF flows and weaker investor demand [1].

What to watch

• Resistance Levels: Monitor if Ethereum can sustain a daily close above $1,900, which would target the 100-day EMA at $1,924 [1].
• Support Levels: A daily close below $1,850 could push ETH back towards the $1,800 zone [1].
• RSI Momentum: Continued strength in the 14-day RSI above its signal line, and remaining below the 70 overbought threshold, would suggest room for further upside [1].

The current market shows a conflict between daily momentum turning positive and longer-term indicators, such as the four-hour chart and the declining 50-day moving average, which remain bearish [1]. This ambiguity suggests the market is at a decision point rather than a stable equilibrium [1].