Ethereum is trading near $1,923, recovering from last week’s $1,820 low and moving within an ascending channel in August. The price is up roughly 1% in the past 24 hours, with bulls eyeing a breakout above the $1,920 resistance to target $1,960 and then the psychological $2,000 level.
Record ETF Inflows Signal Renewed Institutional Demand
Spot Ethereum ETFs recorded $244.94 million in weekly net inflows, the largest weekly tally in nearly four months. Cumulative net inflows now stand at $11.46 billion, and weekly trading volume reached $2.38 billion. Analyst Ted (@TedPillows) highlighted the data, noting that the surge marks a sharp reversal after weaker flows earlier in 2026. On August 7 alone, Ether ETFs added $49.60 million, extending a four-session inflow streak. Meanwhile, Bitcoin ETFs saw $98.85 million, continuing a five-day positive run.
Whale Accumulation Boosts Sentiment
Two large wallets collectively accumulated 80,000 ETH worth $152 million. One wallet pulled 30,000 ETH ($57.21 million) from Coinbase Prime and distributed it across three new addresses. A second wallet acquired 50,000 ETH ($95.73 million) from a Fidelity-linked wallet, according to Onchainlens. Ethereum’s Whale Sentiment Index held above 60 for two days and above 50 for six consecutive days, currently sitting near 66, indicating strong buying from large holders. However, not all whales are bullish: a long-term holder sold 7,323 ETH at a $6 million loss, having bought at an average price of $2,723 in 2022 and 2023.
Technical Analysis and Regulatory Catalyst
Analyst Ali Charts noted that Ethereum’s monthly chart flashed two TD Sequential buy signals last month—a black 9 and an S13. Historically, every monthly TD Sequential signal over the past four years has accurately identified ETH’s trend, including a 75% drop in April 2022 and a 236% rally in September 2022. If validated, these signals could trigger a rally toward $3,000. On the technical front, ETH’s RSI is at 61.03 (bullish but not overbought), and the MACD remains above its signal line. The price is testing the 100-day moving average; a break above could open a path to the 200-day EMA at $2,147. Support sits at $1,880 and $1,860.
On the regulatory side, the U.S. Senate opened the first voting stage on the CLARITY Act on August 8, which could advance to a full September vote if it clears a 60-vote threshold.
