Key Highlights
- ETH price consolidates between $1,910 and $1,918, maintaining support above the crucial $1,900 threshold
- Spot Ethereum ETFs in the US posted $92.15 million in net inflows on August 6, pushing weekly totals to $244.94 million—the strongest four-month period
- The asset now trades above its 20-day, 50-day, and 100-day moving averages, though still beneath the 200-day MA at $2,061
- Disappointing US employment data reduced expectations for Federal Reserve rate increases, providing support to risk-oriented assets like cryptocurrencies
- Market observers identify $2,000 as the critical next resistance, with $1,900 serving as the dividing line for near-term sentiment
Ethereum’s current price hovers in the $1,910–$1,918 range. The digital asset has successfully maintained its position above the psychologically significant $1,900 mark following a week of gradual appreciation.
Over the past seven days, ETH has gained more than 4%. Market participants have repeatedly protected the $1,840–$1,850 zone since early August, preventing any significant downward movement.
ETH has climbed above three critical daily moving averages. The cryptocurrency now sits comfortably above its 20-day MA at $1,895, its 100-day MA at $1,911, and its 50-day MA at $1,796. However, the 200-day moving average remains a barrier at $2,061, with ETH still trading underneath this longer-term indicator.
The daily Bull Bear Power metric has shifted to positive territory at 32.07, indicating buyers currently maintain a slight advantage in the market.
Market analyst Ted Pillows shared insights on Twitter, highlighting that ETH ETFs accumulated $244.94 million worth of Ethereum throughout the week—marking the strongest weekly capital inflow in nearly four months. He added that despite postponements in Clarity Act proceedings, ETH appears fundamentally sound. “Should ETH sustain its position above this threshold, we could witness a push toward $2,000,” he commented.
$ETH is still holding above the $1,900 level.
Clarity Act voting has been delayed, but still Ethereum looks good.
If ETH manages to hold above this level, a rally to $2,000 could happen next. pic.twitter.com/rJiHJh5H8l
— Ted (@TedPillows) August 7, 2026
Institutional Demand and Employment Data Drive Momentum
United States spot Ethereum ETFs registered $92.15 million in net inflows on August 6. BlackRock’s ETHA product dominated the previous session, attracting $50.34 million. Total cumulative net inflows into US spot ETH ETFs have now surpassed $11.4 billion.
$ETH ETFs bought $244,940,000 in Ethereum this week.
Largest weekly inflow in almost 4 months. pic.twitter.com/h5WLpv4j0p
— Ted (@TedPillows) August 8, 2026
Friday’s employment statistics from the United States provided additional momentum. The economy shed 23,000 jobs during July, contrasting sharply with forecasts predicting approximately 80,000 new positions. This substantial shortfall weakened arguments for additional Federal Reserve interest rate increases, with futures markets now indicating roughly a 56% probability of no action at the September policy meeting.
BREAKING: The US economy unexpectedly loses -23,000 jobs in July, well below expectations of +85,000.
The unemployment rate fell to 4.1%, below expectations of 4.2%.
June's jobs number was also revised down by -37,000 jobs.
This marks the 3rd biggest monthly job loss since the…
— The Kobeissi Letter (@KobeissiLetter) August 7, 2026
The 4-hour Relative Strength Index registers 61.74, positioned above its signal line yet remaining under the 70 threshold that would signal overbought conditions. Bullish momentum persists without appearing overextended.
Liquidation Data Suggests Upward Pressure Toward $1,950
The 3-day liquidation heatmap reveals concentrated leveraged positions around $1,925, with a more substantial accumulation between $1,945 and $1,955. These areas could function as price magnets if bullish momentum persists.
Piercing through the $1,925 level might initiate forced liquidations of short positions, potentially accelerating upward movement toward $1,950.
Market analyst Michaël van de Poppe suggested that Ethereum may outpace Bitcoin if BTC continues its upward trajectory. His extended target for ETH reaches approximately $2,400, though he emphasized the necessity of clearing both $2,000 and the 200-day moving average beforehand.
The immediate resistance to monitor remains $2,000. ETH concluded Friday’s session near $1,918, with $1,900 functioning as critical near-term support that underpins the current bullish narrative.
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