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Key Takeaways
- The 100-day SMA is the immediate test.
- $1,985 remains the next major resistance.
- ETF flows improved after recent weakness.
- Short-term trading demand remains uneven.
ETH is trading around $1,920 at the time of writing on August 8, slightly above the 100-day SMA near $1,906. U.S. spot Ethereum ETFs brought in roughly $245 million over the past week, while CoinGlass data show a less consistent signal from short-term spot and futures activity.
Ethereum Is Testing a Two-Week Resistance Break
The 100-day SMA has repeatedly capped Ethereum since late July, making today’s close important for determining whether the latest move can hold.
The resistance developed after ETH approached the 0.5 Fibonacci retracement near $1,985 on July 27 and was rejected. ...
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