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Ethereum [$ETH] had a strong July, recovering much of the ground it lost in June. Now, will $ETH break above $2,000, or move sideways in the days ahead?
$ETH jumped back up in July
Ethereum ended July with gains of 20.3% — Its strongest monthly performance over the past year. The rebound helped $ETH recover a large part of June’s 21.8% fall, and brought some confidence back to the market after a difficult H1 2026.
Now, what’s peculiar is how against the historic tide these gains have been. So far, $ETH has delivered an average July return of 10.7%, while the median return for the month is negative. This means July 2026 performed far better than a typical July.
Still, the recovery did not completely erase June’s losses. $ETH is still entering August below recent highs.
Spot ETF demand supported $ETH’s July rebound
Part of July’s recovery was backed by good demand from Spot ETFs. Most trading days saw net inflows, so big player interest was very much alive; even when $ETH saw mutliple short-term pullbacks.
By the end of the month, daily net inflows were at $13.29 million, while total assets held by Ethereum Spot ETFs reached about $10.52 billion. The trend was not completely smooth though as a few sessions saw big outflows.
Still, buyers returned quickly after those dips.
$ETH: Going into August below $1,900
Despite all the gains and inflows, Ethereum ended July under pressure. $ETH slipped below $1,900, while the RSI went down to 52.25; buying pace was weak without being completely bearish.
Derivatives activity also slowed down. Aggregated Open Interest went down to around $11.46 billion from its recent highs, indicating that traders were reducing exposure.
Funding was positive at 0.0024%, but the advantage held by long positions was small.
$ETH now needs to reclaim $1,900 before making another attempt at $2,000. Until that happens, sideways movement or a bigger pullback remains possible.
Final Summary
- Ethereum gained by 20.3% in July, its best monthly return in a year.
- The altcoin is now going into August below $1,900, with indications that a move to $2K remains uncertain.