Ethereum Slides 4 Percent but Analysts Eye a Rebound to $2,245

Ethereum prices slipped 4 percent over the last 24 hours, settling near $1,835 after failing to hold above the $1,930 mark earlier this week. This pullback arrives as institutional interest shows signs of cooling, with US spot Ethereum ETFs recording over $28 million in net outflows. Despite the recent selling pressure, total inflows for July remain positive, sitting at more than $190 million.

Market analysts are split on what comes next. One perspective suggests that Ethereum is following a historical trend where reclaiming the 0.8 MVRV pricing band often leads to a rally toward the realized price. If this pattern holds, ETH could target $2,245 as its next significant milestone.

Other market watchers anticipate a more complicated path ahead. Some suggest a recovery toward $2,000 or $2,200 is possible if Bitcoin reaches $70,000, but they also warn of a potential deeper correction afterward. Investors are watching these technical indicators closely to see if the asset can establish a new bottom before starting a broader bull cycle.

Success for Ethereum in the coming weeks will likely depend on Bitcoin price action and shifting institutional sentiment. While current inflows are inconsistent, the broader trend remains a key point of interest for traders waiting to see if the market can stabilize.