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The Ethereum price sank 5% in the last 24 hours to trade at $3,525 as of 11:29 p.m. EST on a 17% surge in trading volume to $40.1 billion.
This comes even after BlackRock’s ETH ETF (exchange-traded fund) (ETHA) hit $4 billion on record July inflows.
⚡️LATEST: BlackRock's #Ethereum ETF just set record-breaking monthly inflows in July, topping over $4B!
Does Larry Fink know something about #ETH? 👀 pic.twitter.com/Qt5VshimPV
— Coin Chronicle (@CoinChronicle6) August 1, 2025
According to CoinGlass data, ETH ETFs in July recorded a massive $9.52 billion in inflows.
Can investors push the price of ETH back up?
Ethereum Price Still Bullish – Is $4,500 the Next Stop?
The ETH price completed a well-defined rounded bottom pattern, a classic bullish reversal formation that unfolded from mid-February to mid-May 2025.
However, after completing the rounded bottom, the Ethereum price then went through a consolidation phase, with the $2,800 level acting as resistance. After breaking above the neckline around $2,800, the price of Ethereum surged rapidly and reached a recent high of $3,950 before pulling back slightly to $3,525.
The 50-day Simple Moving Average (SMA) has turned upward and currently sits at $2,975, now well above the 200-day SMA at $2,499, forming a golden cross at $2,521, which reinforces the bullish outlook. ETH’s price remains comfortably above both SMAs, showing sustained momentum.
Meanwhile, the Relative Strength Index (RSI) is currently at 55.41, retreating from overbought levels but still in bullish territory, indicating that the asset has room for another leg up.
The price of ETH recently cleared the 1.0 Fibonacci retracement level at $3,347, and the next potential resistance is the 1.618 Fibonacci extension at $4,556, which acts as the next key target.
ETH/USD Chart Analysis (Tradingview)
On the flipside, if the price of Ethereum continues to drop, the next key support levels lies at $3,347 (1 Fib level) and the 0.786 Fib level at $2,928.
Meanwhile, many investors are rotating profits into a new crypto called Snorter Token (SNORT), which has already raised over $2.7 million in presale.
According to 99Bitcoins, a popular crypto YouTube channel with over 723K subscribers, SNORT could potentially soar 100X on launch.
Snorter Token Races Toward $3 Million In Presale – Next Crypto To Explode?
Snorter Bot is a new crypto trading bot designed to snipe, swap, copy trade, and more, all right from Telegram.
It’s incredibly adept at navigating token launches to stay ahead of MEV bots and whales, and it has an 85% success rate at identifying rug pulls.
Snorter Bot also beats the competition in terms of fees. By simply holding the SNORT token, traders reduce their execution fees from 1.5% to 0.85%, undercutting other Telegram bots.
Not here to overhype — just liking what I see from @SnorterToken so far. pic.twitter.com/GMoG7HDehX
— Skay 🌊 (@Skaywgmi) June 11, 2025
Early investors can also stake their tokens for a massive 159% annual return. It’s best to stake early because the rate decreases as more buyers join.
The token is currently priced at $0.0999. Investors can buy SNORT tokens with SOL, ETH, USDT, or a bank card through the widget on the project’s website.
Interested investors should act before the next price hike in less than 2 hours.
Check out the Snorter Token website.
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