Ethereum pushed back above $1,900 on July 29, climbing nearly 2% after dipping to an intraday low around $1,856. This rebound came as inflows into US spot Ethereum ETFs and short liquidations strengthened its position against key support levels just before the Federal Reserve’s interest rate announcement.
Data shows that Morgan Stanley’s newly launched Ethereum Trust, trading under the ticker MSSE on NYSE Arca, attracted $5.15 million in net inflows on its debut. Combined with BlackRock’s ETHB and other spot ETFs, total Ethereum ETF inflows hit $14.53 million. These funds now hold about $10.5 billion in net assets, representing roughly 4.53% of Ethereum’s total market cap. The flow of institutional cash appears to be providing solid backing for the token, offering fresh momentum in a market awaiting the Fed’s policy signal.
The technical picture reflects this cautious optimism. On the four-hour chart, ETH remains locked within an ascending channel, approaching resistance near $1,970. The daily Bollinger Bands show the price consolidating between the midpoint at $1,874 and the upper band close to $1,973, setting the stage for a potential breakout if buying pressure grows. Meanwhile, the Chaikin Money Flow indicator suggests more capital coming in than leaving, though momentum is not yet at a strong breakout level.
Short liquidations clustered near $1,940 and $1,960 could influence price action in the hours ahead. The launch of MSSE not only adds to institutional demand but also expands regulated access to Ethereum for US investors, allowing participation through brokerage and retirement accounts with a competitive expense ratio. This development joins other significant market events as investors assess risk and position ahead of the Fed’s announcement.
Bitcoin’s steady movement also mirrors the cautious mood in crypto as economic policymakers hold the spotlight.
This content is for informational purposes and should not be considered financial advice.
