Ethereum (ETH) Surges Past $1,700 as Rare Monthly Buy Signal Emerges

Key Highlights

• Ethereum reached approximately $1,715 on July 3, posting gains exceeding 6% over a 24-hour period
• A seldom-seen monthly TD Sequential buy indication has emerged, previously appearing before significant price surges in 2022 and 2025
• United States spot Ethereum ETFs registered $29.08 million in net positive flows on July 2, with BlackRock’s ETHA at the forefront
• Market observer Daan Crypto Trades identified $1,750 as a critical threshold, characterizing it as a crucial test for ETH’s ability to overcome its downward trajectory
• Binance ETH withdrawal activity reached a three-year peak, although positive exchange netflow continues to indicate potential selling pressure

Ethereum successfully reclaimed the $1,700 mark on July 3, hovering around $1,715 following a robust rally that delivered over 6% gains within a single day. This upward movement returned ETH to a price point that market participants have been monitoring intently following several weeks of sustained downward pressure.

The resurgence coincided with renewed capital entering U.S. spot Ethereum ETFs. According to data from SoSoValue, these investment vehicles captured $29.08 million in aggregate net inflows on July 2. BlackRock’s ETHA product dominated the inflow activity with $29.74 million, whereas Grayscale’s ETHE experienced withdrawals totaling $2.75 million.

Market analyst Daan Crypto Trades shared his perspective on the price action through social channels. He observed that ETH had posted a 10% weekly gain and was challenging the February bottom around $1,750. He characterized this zone as an essential level for reclamation, stating it would “signal some strength.” He further explained that this identical area confirmed a structural breakdown in 2025, lending it historical significance. He acknowledged he held no firm conviction yet and was observing how price action unfolded around resistance at the session close.

Ethereum simultaneously generated a monthly TD Sequential buy indication — an uncommon technical occurrence. Market analyst Ali Charts suggested the signal reflects exhaustion among sellers on an extended timeframe. Historical monthly buy signals preceded rallies of 235% in 2022 and 182% in 2025. While the indicator doesn’t validate a fresh bullish trend, it has captured attention among technical market participants.

Technical Assessment

The MACD histogram registers positively at 19.33, with the MACD line crossing above its signal counterpart. Nevertheless, both indicators remain positioned below the zero threshold, indicating the trend hasn’t completely inverted. The RSI advanced to approximately 51.85, climbing above its moving average of 38.12 and surpassing the neutral 50 benchmark.

Ethereum bounced from a double-bottom formation near $1,565. Immediate resistance is positioned at $1,800, with $2,000 representing the next major obstacle. A concentration of liquidity around $1,740–$1,750 sits just above the current trading range, potentially acting as a magnet for short-term price action.

Market commentator Crypto Patel highlighted that ETH just completed its inaugural streak of three consecutive red quarters since inception — an unprecedented occurrence in Ethereum’s trading history.

On-Chain Metrics and Derivatives Analysis

Open interest expanded 10.64% to reach $24.54 billion, while ETH trading volume increased 14.48% to $44.74 billion. Funding rates jumped 113.86%, demonstrating that leveraged long positions proliferated throughout the rally.

CryptoQuant analyst Darkfost documented that Binance ETH withdrawal transactions achieved their highest count in three years, exceeding 166,000 within a 24-hour window. Concurrently, analyst PelinayPA observed that Binance ETH exchange netflow remained positive at +12,938 ETH, indicating more ETH deposits than withdrawals from the platform.

Institutional participation persisted. BitMine maintains holdings exceeding 5.7 million ETH following an acquisition of 27,084 ETH. SharpLink secured an additional 10,000 ETH valued at $16.1 million during the recent price decline.

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