Ethereum Price Holds Key Support as Bulls Target a Recovery to $1,800

Ethereum price traded near $1,580 after buyers defended support around the $1,500 zone. The area has attracted repeated buying interest during recent sessions, although ETH remains below key resistance created during the latest decline.

On-chain activity also remained active. SharpLink Gaming received another 5,000 ETH, while a wallet reportedly linked to Vitalik Buterin transferred 7,000 ETH to a fresh address. At the same time, spot Ethereum exchange-traded funds continued recording net outflows, creating mixed signals for short-term traders.

Ethereum Price Holds the $1,500 Support Zone

BitBull identified the area between roughly $1,480 and $1,520 as Ethereum’s immediate demand zone. ETH crypto recently fell through $1,600 before finding buyers close to this lower range.

The daily chart showed the first recovery barrier between approximately $1,630 and $1,660. A sustained move above that area could allow ETH to test $1,700, followed by the stronger supply zone near $1,800–$1,840.

BitBull sees a possible bounce toward $1,650–$1,800 if the $1,500 floor survives. However, the chart also leaves room for a brief sweep below support, potentially toward the mid-$1,400 region, before a recovery begins.

Price remains structurally weak while it trades below $1,660. A daily close under $1,480 would also damage the current support setup and increase the risk of another leg lower.

SharpLink Adds Another 5,000 ETH

Meanwhile, Lookonchain reported that SharpLink Gaming received another 5,000 ETH worth approximately $7.88 million. The transaction followed a similar 5,000-ETH transfer valued at nearly $7.85 million the day before.

The latest dashboard also showed SharpLink moving 26,324 LSETH worth about $45.54 million to another address. Separate transfers from company-labeled wallets to Coinbase Prime included smaller batches ranging from roughly 169 ETH to 205 ETH.

The fresh 5,000 ETH inflow suggests that the company is still expanding or reorganizing its Ethereum exposure while price trades close to long-term support.

Corporate buying can provide a positive demand signal, but the transaction alone does not establish that the market has bottomed. ETH still needs broader spot demand and stronger price confirmation above nearby resistance.

The $1,630–$1,668 range, therefore, remains the first important test for the latest accumulation activity.

Large Wallet Movement Adds Selling Uncertainty

Additionally, Onchain Lens tracked 7,000 ETH worth about $11.06 million moving from a wallet linked to Vitalik Buterin into a new address. The transfer came after roughly one year of inactivity.

The analytics account said the new wallet may later deposit the funds into centralized exchanges, based on patterns observed in earlier movements. The same source noted that 1,300 ETH, worth around $3.19 million, was previously transferred and later sent to Paxos.

The original wallet still holds about 20,001 ETH valued at nearly $31.6 million. No confirmed sale was shown in the supplied transaction data, meaning the movement should not automatically be treated as active selling.

Still, the transfer adds uncertainty while ETH is testing support. Traders often monitor exchange-bound wallet movements since they can increase the immediately available supply.

A confirmed exchange deposit would carry more bearish weight than an internal wallet transfer. Until then, the transaction remains a potential liquidity move rather than proof of disposal.

Corrective Bounce Faces ETF Outflow Pressure

Notably, More Crypto Online expects Ethereum to attempt a corrective wave-four recovery after forming a new low. The preferred structure places initial resistance between $1,605 and $1,668.

A move through that zone could extend toward approximately $1,690. Stronger recovery targets range from $1,823 to $2,224, though the analyst still views the broader bounce as corrective rather than the start of a new uptrend.

That cautious outlook aligns with continued pressure from institutional products. Wu Blockchain reported that spot Ethereum ETFs recorded a seventh straight day of net outflows, including roughly $12.85 million on June 26.

The broader chart also shows monthly crypto ETF flows falling to about negative $4.06 billion, with total net assets near $72.82 billion. Bitcoin ETFs accounted for most of the latest daily withdrawal, but Ethereum products also remained negative.