By Sir Sabir I Crypto Analyst

Ethereum $ETH , the second-largest cryptocurrency by market cap, is currently hovering near $3,070, down around 3.2% over the past seven days. While Ethereum has benefited from the overall crypto recovery this year, momentum has recently stalled due to ETF delays in the U.S. and ongoing concerns about its layer-2 ecosystem.

RECENT PRICE MOVEMENT:

Ethereum reached a local high of $3,280 in mid-July but has since struggled to break through the key $3,300 resistance zone. It’s now consolidating just above $3,000.

7-Day Change: -3.2%

30-Day Performance: +7.5%

YTD Gain: +39.8%

Market volatility has increased as traders await clarity on U.S. regulatory decisions and Ethereum’s next major upgrade timeline.

U.S SPOT ETH ETA APPROVED DELAYED:

The U.S. Securities and Exchange Commission (SEC) has delayed its decision on multiple spot Ethereum ETF applications, including those from BlackRock, Fidelity, and VanEck.

“The delay is not a denial, but it’s slowing ETH’s institutional momentum,” said crypto lawyer Jake Chervinsky.

These delays are adding short-term selling pressure as investors expected approvals by August.

LAYER-2 GAS FEE STRUGGLE:

Despite Ethereum’s transition to proof-of-stake (PoS), users are still facing intermittent gas fee spikes on the mainnet. While Layer-2 networks like Arbitrum, Optimism, and Base continue growing, critics say L2 fragmentation is slowing Ethereum’s scaling narrative.

Key Points:

L2 TVL: Over $42 billion (Arbitrum leads with 40% share)

Gas spike on July 30: $15 average per transaction during NFT mint

Next Upgrade: “Purge” and “Scourge” phases expected in late Q4 2025

TECHNICAL OUTLOOK:

Analysts are watching these levels closely:

Resistance: $3,300

Support: $2,950

200-day EMA: Holding as dynamic support

RSI: 52 – Neutral zone

A breakout above $3,300 could spark a rally toward $3,600, while a fall below $2,950 could lead to a retest of the $2,700 region.

QUICK STATS ( August,3,2025)

Metric Value

Price $3,070

Market Cap $369 Billion

Staked ETH 33.5 Million

Dominance 17.9%

24h Trading Volume $18.2 Billion

Gas Fees Avg $6.80

OUT LOOK:

While ETH faces short-term uncertainty, long-term fundamentals remain intact. If ETF approvals come through in Q4 and scaling issues are addressed, Ethereum could still retest its all-time high of $4,878 by early 2026.