Ethereum (ETH), the second-largest cryptocurrency by market capitalization, enters mid-July 2026 in a fairly challenging phase. After experiencing selling pressure over the past few months, the price of ETH is still moving around the US$1,570–1,600 area, making this level one of the key inflection points for the next trend direction. Although market sentiment remains cautious, there are several indicators suggesting that Ethereum could enter a recovery phase if it is able to hold the major support zone. (Dipprofit)

From a technical standpoint, the US$1,500 level is a crucial psychological and technical support. This area has repeatedly served as a defense point for buyers. If ETH can hold above this level, the chances of a rebound toward the US$1,750–US$1,900 range increase significantly. Conversely, if this support is broken with high volume, selling pressure could push the price down toward the US$1,200 area. (BeInCrypto)

On-chain indicators also show an interesting condition. Ethereum network activity has indeed slowed down, as seen by the declining number of active addresses. However, on the other hand, data shows that large-holding wallets (whales) have actually started accumulating. Such conditions often appear at the final stage of a downtrend, when institutional investors begin to accumulate assets before the next major move. Nevertheless, whale accumulation does not necessarily lead to an immediate price increase in the short term, as macroeconomic sentiment still plays a major role. (BeInCrypto)

External factors are also on investors' radar. Central bank interest rate policies, global economic conditions, and capital flows into the digital asset sector will be the main determinants of Ethereum's direction in the coming weeks. If macro pressures begin to ease and appetite for risk assets returns, Ethereum could be one of the assets that benefits, given that the DeFi, staking, and real-world asset tokenization ecosystems continue to grow. (Dipprofit)

In the short term, the most realistic scenario is a consolidation move between US$1,500 and US$1,750. A breakout above US$1,750 could open the door toward US$1,900 to US$2,000. Conversely, a daily close below US$1,500 would increase the risk of a deeper decline. Market predictions also show sentiment beginning to improve, with a fairly high probability for ETH to retest the US$1,900 area if positive momentum forms. (CoinGecko)

Overall, Ethereum is still in a direction-finding phase. Although the short-term trend has not fully turned bullish, several signals are starting to indicate a potential reversal if major support can be maintained. Investors are advised to remain disciplined in risk management and to keep an eye on global economic developments before making investment decisions.

Personal Prediction: In the coming weeks, the most likely scenario is for ETH to move in a consolidation phase before determining a new direction. As long as the price holds above US$1,500, the potential for a rise toward US$1,900 remains open. However, if that level fails to hold, a decline toward the US$1,200 range remains a scenario to watch out for.$ETH