The Ether factory was maintained near US$ 1600 on 2 July, and the market showed signs of stability after successive pressures. The re-establishment of the FET Flow and the continued rise in the chain pledge ratio provide a new observation point for the repair of ETH, but the price is still down in the near future.
ETF financial flows are being restored
According to SoSoValue, US-based ETF recorded a net inflow of $14,895,000 on 1 July. Of that amount, Belet ETHA received $36,639,000 a day, the largest.
Some time ago, the ETF continued to suffocate market sentiment. The report mentions that, as of the week of 26 June, the total net outflow of such funds was $273 million, of which ETHA accounted for $236 million. The pressure of such outflows is even more evident for ephemeral products that are smaller than bitcoin ETFs.
If follow-up funding continues to flow, the market is expected to retest the expected warming of $1700 for ETH; if the inflow subsides again, the rebound may still be considered to be a phased restoration in the downward trend.
$1700 to $1,800 remains critical
On the whole, the recent phase of ETH is mainly organized between US$ 1580 and US$ 1650. On 2 July, ETH rose at one point to $1637.22, an increase of 2.49 per cent for 24 hours and $1564.82 at a low point in the day.
The market generally sees $1700 to $1,800 as an area where stronger repair signals are located. Prior to that, at the end of the season, the sale of whales, the distribution of whales and the weakness of institutional funds had once allowed ETH to remain close to the $1500 support. If this position is missed, the market's concern for further downsurges.
Some of the technical indicators show a decrease in depressure, but the trend has not yet been fully reversed. The relative strength and weakness indicator RSI returned to above 40 and is still below 50; this means that the purchasing drive has been repaired, but it is not yet sufficient to confirm a clearer reversal.
The pledge rate is 33%.
With regard to the data on the chain, CriptoQuant Analyst EgyHash indicated that for the first time, the safe rate of the Taicha had increased by 33 per cent to about 33.06 per cent. This means that more ETH is locked in pledge contracts, not into the market.
According to the analyst, this trend suggests that long-term holders still prefer to continue to pledge rather than sell at a price-deficit stage. Since the completion of Merge, the pledge ratio has continued to rise, and prices have experienced multiple price increases and drops.
Higher pledge rates usually reduce the marketable supply of exchanges and help to tighten the pressure when demand rises. However, the report also notes that pledge growth in itself does not mean that prices will rebound immediately, and that short-term trends are still dependent on ETF funds, spot purchase boards, treasury allocation and chain use.
The company's treasury continues to grow.
Business buys continue. SharpLink recently bought another 10,000 ETHs, with a turnover of approximately $16.1 million, increasing the holding stock to 886725. Bitmine also increased its ETH to over 5.7 million within a week, representing about 4.7 per cent of the supply in circulation.
In addition, Etheum Informational has been launched, supported by Bitmine, SharpLink and Joe Lubin, with the objective of promoting the use of Etherwood-related services by banks, regulators and trustees.
However, the increase in such enterprises has not yet changed the short-line pattern of ETH. The sale of giant whales, the previous ETF weakness and the overall low risk preference have kept prices below $1700 to $1,800. Overall, financial and chain data have improved, but markets are still waiting for clearer signs of a rebound in demand.