# Ethereum Faces Monthly Close

**Published:** 2026-07-30T06:59:11.212Z  
**Topic:** Bitcoin  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/893a3498-7b6e-43b7-a809-9ff9be6518d6

Ethereum price up 19.6% in July, outperforming Bitcoin, as ETH/BTC ratio hits 3-month high, with $2,000 and $2,500 as key levels to watch, and a record 2.5

Ethereum is approaching a crucial monthly close, with its price having gained 19.6% over the past month, outperforming Bitcoin's 5.2% rise [3]. The ETH/BTC ratio has climbed to 0.030, its strongest reading in 3 months, suggesting Ethereum's relative strength against Bitcoin [3]. 

| At a glance | |
|---|---|
| Price | $1,880 |
| 24h % move | -1.1% |
| Key level | $2,000 resistance |
| Catalyst | Record network activity and improving ETH/BTC ratio |

## Ethereum's Price Action
Ethereum's price has fallen out of its rising channel and is testing the 0.382 Fibonacci retracement, a crucial support level [4]. The price hesitation contrasts with record network activity, with approximately 2.5 million transactions per day, close to the highest level recorded in the network's history [4]. According to CryptoQuant's realized-price data, Ethereum is still trading below its realized price, which represents the average price at which the circulating supply last moved onchain [4]. 

## The Competitive Picture and Tokenomics
DonAlt, a pseudonymous analyst, noted that Bitcoin needs to move decisively away from the $60,000 region and reclaim $65,000 to improve its technical outlook [1]. In contrast, Ethereum is displaying relative strength against Bitcoin, with a sustained move above $2,000 potentially improving its short-term structure [1]. The ETH/BTC MVRV ratio has fallen from 0.95 in August 2025 to about 0.65, still short of the 0.45 zone marking earlier floors [3]. 

| Token Metrics | Value |
|---|---|
| Circulating supply | 122 million |
| Validator exit queue | 0 |
| ETH staked | 2.5 million |

## What to Watch
* The $2,000 resistance level, a key milestone for Ethereum's short-term structure
* The ETH/BTC ratio, which has hit a 3-month high, indicating Ethereum's relative strength against Bitcoin
* The record network activity, with approximately 2.5 million daily transactions, which could challenge the idea that weak price performance necessarily means weak adoption

The real significance of Ethereum's price action lies in its ability to hold the current support level and potentially break out above $2,000, which could reopen a move toward its previous all-time high. The open question remains whether the improving ETH/BTC ratio and record network activity can sustain Ethereum's price momentum.

## Sources
1. Benzinga — [Bitcoin, Ethereum Face Crucial Monthly Close on Friday: These...](https://www.benzinga.com/crypto/cryptocurrency/26/07/60771057/bitcoin-ethereum-face-crucial-monthly-close-on-friday-these-are-the-levels-to-watch)
2. Coinglass — [Bitcoin Returns History, BTC Performance History | CoinGlass](https://www.coinglass.com/today)
3. BeInCrypto — [3 Bullish Ethereum Signals and 1 Reason to Stay Careful](https://beincrypto.com/ethereum-bullish-signals-august-2026/)
4. Coindoo — [Ethereum Faces a Make-or-Break Test While Activity Hits Record](https://coindoo.com/market/ethereum-faces-a-make-or-break-test-as-activity-hits-record/)

---
Cite as: TrendWatcher, "Ethereum Faces Monthly Close", https://www.trendwatcher.in/article/893a3498-7b6e-43b7-a809-9ff9be6518d6