🔥 $ETH falls by 4.5% from $3,760 but accumulates ETF record: Buy the dip?
📊 Current price and clear technical structure
Ethereum is trading around $3,511 after an intraday drop that took it from $3,760 (recent high) to a low of $3,432. It remains above the technical support at $3,480–$3,500, respecting the 20-day moving average and still within the medium-term bullish channel.
⚙️ Key factors
Spot ETFs recorded net inflows of +$5.43B in July, with ETH rising 48.8% during that period.
Despite the daily drop of 4–6%, on-chain indicators and flows support a continuation of the rally.
BlackRock already holds over 3 million ETH in ETHA, surpassing the inflow recorded by Bitcoin ETF.
🔧 Technical level of the day
📌 Support: $3,480–$3,500 (EMA20, intraday lows)
📌 Immediate resistance: $3,760–$3,820
🎯 Critical zone: if it consolidates above $3,500 it would be a signal for a rebound towards levels of $3,760+, while a drop below opens the risk of a correction towards $3,400–$3,300.
🌐 Institutional outlook / macro view
The strong momentum in ETFs shows that Ethereum is already transitioning towards a profile of "liquid institutional asset," with staking, tokenization, and stablecoins cementing its narrative. The momentum could continue, even after technical correction.
Will you take advantage of the dip below $3,520 to add ETH, or are you waiting for confirmation of the rebound? Comment below 👇
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